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Abdul-Nashiru Issahaku In first interview, BoG governor talks price stability

Speaking for the first time since becoming the governor of the BoG on April 4, Issahaku told Reuters that he also wants to sanitise the microfinance sector and enhance the regulator's transparency and capacity.

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Bank of Ghana (BoG) Governor Abdul-Nashiru Issahaku has pledged to fight inflation and ensure price stability.

Speaking for the first time since becoming the governor of the BoG on April 4, Issahaku told Reuters that he also wants to sanitise the microfinance sector and enhance the regulator's transparency and capacity.

"My focus is to work assiduously to achieve our core responsibility of ensuring price stability," Issahaku said

The microfinance crisis that rocked the country in 2015 was one of the low point of former governor Dr Kofi Wampah's administration.

Wampah resigned three months before his term so as to allow the new governor settle in ahead of a make or break election on November 7.

Barclays Bank Ghana said last week that it does not expect any major change in monetary policy direction of the Bank of Ghana (BOG) under Issahaku.

READ MORE: Who is BoG new boss, Dr. Abdul-Nashiru Issahaku?

"We do do not expect any change in significant monetary policy direction of the central bank under Dr. Issahaku," Barclays Bank said in its fixed income market update.

However, the Bank said it expect the cedi to continue trading in the front foot in the coming weeks in the range of 3.8300 to 3.8500.

Financial players have also urged Issahaku to address overspending in an election.

But he said he will work with the Finance Ministry and other agencies to maintain spending limits. "Elections or no elections, I remain committed to the programme and we cannot afford to derail."

Dr Issahaku holds a Masters in Agric Economics and a Ph.D. in Political Science from the University of Georgia.

He worked as a Governance Expert at the State University of New York, Center for International Studies.

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