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The Bank of Ghana (BoG) has warned policy makers against the early withdrawal of support measures instituted to address the effects of the covid-19 pandemic, saying it could harm the economic recovery process.
The First Deputy Governor of Bank of Ghana (BoG), Dr Maxwell Opoku-Afari, said the timing of withdrawal policy support would need to be carefully done not to jeopardise the recovery process.
“A careful balancing act between unwinding the policy support would be needed by policy makers to ensure that stability in a post-pandemic environment is guaranteed,” Dr Opoku-Afari said.
He was speaking at the opening of a two-day workshop on financial literacy for Journalists for Business Advocacy (JBA) at Prampram in the Greater Accra Region on the theme: “Understanding Monetary Policy in a Post Pandemic Era.”