Dr Ernest Addison is the new governor of the Bank of Ghana
The appointment follows the resignation of Dr Abdul-Nashiru Issahaku.
A statement from the presidency signed by Director of Communications Eugene Arhin said: "In order not to have a vacuum at the top of such an important state institution, the president, in accordance with Article 183 (4) (a) of the constitution, has appointed Dr Ernest Kwamina Yedu Addison as Governor of the Bank of Ghana, subject to consultation with the Council of State."
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Dr Addison will officially take over on April 1, 2017.
He once served as the Director of Research at the Bank of Ghana during the tenure of Kwesi Amissah-Arthur as governor. He was at the central bank from 2003-2011.
After leaving the central bank, he joined the African Development Bank (AfDB) in May 2011.
Dr Addison was also a Chief Economist with the West African Monetary Institute from 2000-2003.
He got his Doctor of Philosophy (Ph.D.), Economics, from 1989-1993 at McGill University.
He did his Master of Philosophy (M.Phil.), Economics at Cambridge University from 1987-1989.
He attended the University of Ghana for his Bachelor of Arts (B.A.), Economics between 1982 and 1986.
Dr Issahaku quits
"They did not force me out. It was a personal decision," he said.
READ MORE: Dr Abdul Issahaku: BoG governor resigns
He succeeded Dr Henry Wampah in April 2016 when he was appointed by former President John Mahama.
Before his appointment as the governor, Dr Issahaku had been the second deputy governor of the central bank since July 2013.