The President of the Private Newspaper and Online News Publishers Association of Ghana (PRINPAG), Andrew Edwin Arthur, has commended the Bank of Ghana (BoG) for its unwavering dedication to the broader interest of Ghana.
Speaking at the Bank of Ghana’s annual financial literacy programme for members of its press corps, Mr. Arthur highlighted the importance of the central bank’s actions and policies in promoting economic growth and stability.
According to Mr. Arthur, PRINPAG, as a media association, frequently interacts with the management of the Central Bank, and they firmly believe that the Bank always acts in good faith for the benefit of the nation.
BoG has been under attack by some individuals and groups including the main opposition National Democratic Congress (NDC) for supporting government during the country’s financial crisis, aimed at rebounding the economy.
However, this critical support has led to the central bank losing over GHC60 billion and this has contributed to the opposition NDC calling for the resignation of the BoG Governor, Dr. Ernest Addison and his two deputies.
But Mr. Arthur acknowledged that the BoG had faced public criticism on some occasions and that that all their actions were within the applicable laws governing their mandate as an apex bank, and no money had been lost through their operations in 2022.
The annual financial literacy program, held under the theme “Regaining Confidence in the Economy: The Role of Monetary Policy,” reflects the Bank of Ghana’s commitment to implementing people-centred policies and programs that benefit the country, its residents, and business development.
Mr. Arthur applauded the Bank of Ghana for forging a partnership and collaboration with the Ghanaian media to educate the public about the economy, echoing PRINPAG’s policy of encouraging its members to specialize in their chosen profession. He credited this collaboration with the media for helping Ghanaians better understand economic issues, thus fostering greater interest in public discussions about the economy.
PRINPAG’s president also acknowledged the positive impact of training programs organized by the Bank, which enhanced media practitioners’ understanding of the Ghanaian economy. He noted that this improved knowledge had led to more informed and engaging news stories, ultimately boosting readership and changing the trend of low patronage for their newspapers.
In light of these achievements, Mr. Arthur expressed PRINPAG’s gratitude to the Bank of Ghana’s management, led by Governor Dr. Ernest Addison, and called for continued support to further propagate relevant economic information to the public.
Mr. Arthur concluded his address by stressing the pivotal role the media plays in supporting democracy and advancing society, reaffirming PRINPAG’s commitment to its partnership with the apex bank.
The event also saw Presidents of Journalists for Business Advocacy (JBA) and Institute for Financial and Economic Journalists (IFEJ) lauding the Bank for its engagement with the media to deepen the understanding of the Bank’s operations.
This positive collaboration has contributed significantly to the media’s ability to provide accurate and comprehensive reporting on financial matters, thereby enhancing public awareness and confidence in the financial sector.
In response, Dr. Philip Abradu-Otoo, the director of research at BoG, representing the Governor of the BoG, Dr. Ernest Addison, expressed his appreciation for the media’s role in disseminating valuable information to the public and reiterated the Bank’s commitment to transparency and accountability. He stated, “We believe in the power of the media to educate and inform the public, and we are committed to fostering this collaboration for the betterment of Ghana’s economy.”
The annual financial literacy program continues to serve as a platform for the exchange of ideas and knowledge between the Bank of Ghana and the media, further strengthening their partnership and promoting economic literacy among Ghanaians.
PRINPAG’s endorsement of the Bank of Ghana’s commitment to the broader interest of Ghana reflects the collaborative effort between the central bank and the media to educate the public and boost economic awareness.
This partnership serves as a model for promoting transparency, accountability, and economic growth in the nation.
