Private Sector Calls for Greater Engagement in BoG’s Monetary Policy Decisions

Accra, March 5, 2025 – The private sector has urged the Governor of the Bank of Ghana (BoG) to actively involve businesses in monetary policy deliberations, arguing that an inclusive approach will promote sustainable economic growth and better align fiscal strategies with business realities.

This call was made at the National Economic Dialogue during the Private Sector-Led Growth breakout session by Abena Amoah, Managing Director of the Ghana Stock Exchange.

She emphasized the need for stronger collaboration between the central bank and industry players, ensuring that monetary policy decisions consider the real challenges and opportunities businesses face.

Bridging the Gap Between Policy and Business Realities

According to Amoah, direct engagement between the BoG and the private sector will help bridge the gap between macroeconomic policies and on-the-ground realities, leading to greater investment, job creation, and economic expansion.

📌 Key Concerns Raised:

• Monetary policy decisions, such as interest rate adjustments and inflation control measures, often lack input from businesses and investors.
• Private sector players believe that frequent engagement with the Monetary Policy Committee (MPC) will ensure policies support growth and employment.
• She proposed that the BoG Governor and the MPC meet with the private sector at least twice a year to enhance collaboration.

A Push for Policy Reforms

As Ghana navigates its economic recovery efforts, business leaders are advocating for policy reforms that create a more enabling business environment. They urge policymakers to adopt an approach that prioritizes growth, innovation, and job creation.

The private sector remains a critical driver of economic development, and a stronger partnership with the BoG could pave the way for more effective monetary policies that support businesses and stimulate economic prosperity.

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