Ex-Deputy Governor Launches Book

Former Deputy Governor of the Bank of Ghana Dr Mahamudu Bawumia will on Tuesday launch a book on Ghana’s monetary policy. The book entitled: “Monetary Policy and Financial Sector Reforms in Africa: Ghana’s experience,” is the first comprehensive book on Ghana’s monetary policy. The book evaluates monetary policy in a chronological order from independence to the current era, spanning different regimes. It covers Direct Controls, Monetary Targeting, and Inflation Targeting under different governments including Nkrumah, National Liberation Council, Busia, Acheampong, Rawlings, and Kufuor. With the benefit and experience of hindsight, Dr Bawumia also did an in-depth analysis of the re-denomination exercise, the national payment system, and the controversial inflation targeting regime of the Bank of Ghana. The former Deputy Governor also discusses in his book the slow response of banks to cuts in policy rates and brings his perspective to bear. Renowned economists and bankers such as Dr Joe Abbey of the Centre for Economic Policy Analysis, Dr Sam Mensah of Sem Capital, and Alhasan Andani of Stanbic Bank will review the book at the launch.