The workshop which was under the theme “  The Role of the Media in Monetary Policy and Financial Stability Reporting” was held in Tamale at the Pioneer Guest Lodge from 4th to 5th December, 2019. The journalist were brought together  from Northern, Upper East, Upper West, North East And Savannah regions.

The journalist were taken through Monetary Policy Practice In Ghana, Recent Developments in Banking and Financial Stability Issues and Introduction to Bank of Ghana’s Economic and Financial Data.

In his welcome address, the president of PRINPAG, Mr. Andrew Edwin Arthur stated that the workshop was intended to equip participants with the requisite knowledge on issues relating to the operations of the apex bank and other financial issues to enable the journalists report on them from informed positions.

He lamented that the recent emerging issues with their attendant controversies and divergent discussions about the financial sector in the media have left many Ghanaians confused hence, the need for media practitioners with the responsibility in disseminating information to the general public to seek the appropriate information and to disseminate same to the general public to clear the confusion.

Mr. Andrew is advocating for the Communications Department of the Bank of Ghana to be strengthened to champion and to set the agenda on these discussions so that Ghanaians can get the right information to plan their lives and their activities.

He suggested the Bank of Ghana to partner with the Information Services Department to disseminate information in the local dialects for the benefit of those who do not understand the English language.

He revealed the information been bandied out to people in the hinterland is misleading hence, the need for the bank of Ghana to devise the right information strategies and machinary to ensure that everybody living in the country will be well informed about happenings in the financial sector.

The President thanked the Bank of Ghana especially, the Governor and the Director of Research Department for sponsoring the workshop.

In a speech read on behalf of the Governor of the Central Bank by Mr. Aziz Mohammed stated that the BoG sees the press as a strategic partner and important stakeholder in helping them to discharge their duty and achieve their mandate.

The Governor thanked financial and economic journalists for breaking down the complex economic and financial issues into simple terms for the understanding of the general public.

He believes the workshop will help the press to seek clarity on pertinent policy questions on the monetary policy process.

Speaking about the clean-up in the banking sector, Dr. Ernest Addison noted that the period 2017/2018 has been eventful following the implementation of a comprehensive reforms by the Bank of Ghana to safeguard depositors funds, maintain financial stability and reposition the industry to support the country’s transformational agenda.

He added that the BoG in May, 2019 embarked on a process to sanitize the microfinance and savings and loans centres to further consolidate the gains made in the banking industry which the media supported by providing the medium for the Bank of Ghana to inform the public about events and policy actions.

The Governor urged media practitioners to master the courage in the discharge of their duties and also be more intrucive in their quest for knowledge and prepare to unearth  issues through responsible journalism.

The Governor further revealed that the central bank is discussing with key stakeholders to explore the creation of the central bank digital currency with the possibility of issuing it in the near future.

As the special guest of honor for the open ceremony of the workshop, the northern regional minister, Hon. Salifu Saeed eulogized the media especially, private media practitioners in the development of the country.

He also touted the role the private media practitioners in the northern region played in the restoration of peace to Dagbang and promised to discuss with the information minister to support the private media practitioners.

Hon. Salifu Saeed urged the Bank of Ghana to collaborate with the media to relay information about the policies of apex bank.

Source :ghfactsonline.com