Media is essential partner in explaining economic issues – BoG Governor

Dr. Johnson Pandit Asiama, the Governor of the Bank of Ghana, emphasized the crucial role of the media as a vital partner in assisting the public to comprehend the central bank's policies and decisions. During the 30th Ghana Journalists Association (GJA) Media Awards in Accra, Dr. Asiama highlighted that journalists are instrumental in elucidating intricate economic and financial matters, encompassing inflation, monetary policy, currency swings, and financial sector reforms.

According to Dr. Asiama, precise and unbiased reporting is instrumental in transforming intricate technical economic data into comprehensible messages for ordinary citizens. "The Bank of Ghana views the media as a fundamental partner in fostering public understanding of most of our operations, especially concerning economic and financial issues," he affirmed.

The Governor underscored that efficient communication ranks among the most critical responsibilities of central banks, asserting that monetary policies are more efficacious when the public grasps them. He further stated that transparency, credibility, and accountability necessitate ongoing interaction with stakeholders, particularly the media.

Additionally, Dr. Asiama warned about the escalating challenges posed by misinformation, disinformation, online abuse, and hate speech in the digital realm. While digital platforms have facilitated information sharing and public engagement, he highlighted the necessity for journalists to adhere to professional standards.

The Governor lauded Ghanaian journalists for their burgeoning contributions to business, finance, and economic reporting via investigative stories, analytical features, broadcast discussions, and digital platforms. He commended the Bank of Ghana for instituting the Governance, Economic, and Financial Story of the Year Award to incentivize superior reporting and enhance public understanding of economic developments.

The award encompasses a range of benefits, including sponsorship for the winner to attend either the IMF and World Bank Spring Meetings or Annual Meetings, a laptop, a one-year internet data subscription, opportunities for professional fellowships with esteemed institutions like the Thomson Foundation and the Reuters Institute for the Study of Journalism, scholarship prospects for further studies in journalism and communications, and professional exchange programs with international media organizations such as Bloomberg and Reuters.

Dr. Asiama expressed his congratulations to the nominees and award recipients, acknowledging their role in informing the public and holding institutions accountable.