The 1st Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku Afari, has urged journalists to be circumspect and calculated in their reports about the country’s move to secure financial assistance from the International Monetary Fund.
He asked journalists to ensure that the news they report is authentic and verified from trustworthy sources.
In a speech read on his behalf by the Director of Research at the Bank of Ghana, Dr. Philip Abradu-Otoo, on August 26, 2022, he noted that the IMF process will not be a smooth one therefore news reporting should be managed and calculated to avoid triggering unwanted sentiments from the global market.
He made the call when he addressed journalists at a financial literacy workshop for journalists in Tamale.
“Before I conclude, let me indicate that the coming months will be challenging for media reporting and the country will need your support in navigating the interactions between the Government of Ghana and the IMF.
“As you are all aware on 1st July 2022, the Government of Ghana announced its intention to seek support for an IMF Funded Program. This process is not going to be smooth sailing and I can assure you that there are going to be newsworthy issues arising out of the engagement,” he said.
He stated that “your role is to begin to have authentic sources of obtaining information on the process and report these to the public in a manner that will seek to bring about confidence in the process.”
According to him, Ghana is a Market Access Country and economic news affect sentiments.
“We need at all times to have the interest of the country above all what we do. As journalists, you must also demand a mechanism for having an update on the process and overtures can be made to Government to have a structure to brief journalists on the process,” he concluded.
The training workshop held under the theme, “Sustaining the recovery: The role of the journalist in building confidence” was aimed at equipping journalists with a better understanding of issues including Monetary Policy formulation and Inflation Targeting, Forex Trading, and the Foreign Exchange Market, the balance of payments and the Bank’s eCedi.