BoG boss cautions against loose reporting on economy

Bank of Ghana Governor Dr Johnson Pandit Asiama has cautioned the media against loose economic reporting, warning that providing information without context can undermine confidence and stability.

Dr Asiama said economic news carries weight, especially during periods of adjustment, and inaccurate or incomplete reporting can unintentionally heighten uncertainty for households and businesses.

“In periods like this, economic information is not neutral,” he said. “Incomplete or poorly contextualised reporting can undermine confidence and have real consequences for the economy.”

He stressed that the Bank of Ghana does not expect compliance from the media but responsibility, particularly accuracy, balance and proper context when reporting on monetary and financial issues.

“Our expectation is not compliance but responsibility,” Dr Asiama said. “Accuracy, balance and context are essential to safeguarding financial stability and public trust.”

According to the Governor, central banking decisions are complex and their benefits are often indirect or delayed, making careful explanation critical to public understanding.

“Monetary policy decisions are rarely simple, and their effects are not immediate,” he noted. “How they are explained and reported can shape expectations and behaviour across the economy.”

Dr Asiama said the Bank remains committed to openness and engagement with journalists, describing scrutiny as both legitimate and necessary in a democratic system.

“Constructive questioning strengthens institutions,” he said. “Scrutiny improves public understanding and helps us do our work better.”

However, he warned that speculation and sensationalism, particularly around inflation, exchange rates and banking sector health, can damage hard-won stability.

“Confidence does not return by chance,” Dr Asiama said. “It is built through consistency, discipline and credible communication over time.”

He pointed to the progress made in 2025, including a sharp decline in inflation and improved order in the foreign exchange market, as gains that must now be protected.

“These gains were achieved through restraint and difficult policy choices,” he said. “They come with a responsibility on all of us to act carefully.”

The Governor said the Bank would deepen collaboration with the media in 2026 through expanded training programmes and a new engagement forum for editors, producers and presenters.

“We see the media as partners in national development,” Dr Asiama said. “Our commitment is openness, respect and continuous engagement.”

He added that responsible economic journalism plays a critical role in maintaining stability, strengthening trust in institutions and supporting informed public debate.

“When reporting is careful and well-grounded, it supports stability,” Dr Asiama said. “When it is loose, the costs are borne by ordinary Ghanaians.”