Bank of Ghana Enhances Financial Reporting Capacity of Central Region Journalists

Strategic Insights -

The Bank of Ghana has held a two-day comprehensive training workshop for 25 journalists in the Central Region to enhance their financial/economic reporting capacity. This training is part of the Bank's efforts to promote transparency and accountability, mitigate misinformation, and provide accurate information on its activities. The training included expert sessions on accurate reporting, Monetary Policy in Ghana, inflation dynamics, and the Foreign Exchange market.

Key Takeaways:

  • The Bank of Ghana has provided similar training to 125 journalists across the Volta, Western, Ashanti, and Eastern regions, demonstrating its commitment to fostering a well-informed media landscape.
  • The Central Bank's primary objective is to ensure general price stability and create an enabling environment for sustainable economic growth.
  • The Bank recognises the critical role of effective central bank communication in enhancing transparency, fostering public understanding, and bolstering credibility.
  • The media is urged to exhibit utmost professionalism in matters concerning the economy and the Central Bank, choosing accuracy over speed and sensationalism.
  • Journalists are encouraged to verify facts, seek proper clarifications, and specialise in areas such as financial reporting, the blue economy, and environmental reporting to make a real impact on society.
  • The Bank has introduced various innovations, including engagement with the media ahead of Monetary Policy Committee meetings and the publication of its submissions, bringing Ghana in line with other central banks using the inflation-targeting framework.

Statistics:

  • The number of journalists trained by the Bank of Ghana across various regions has reached 125.
  • The Central Bank has adopted the inflation-targeting monetary policy framework since 2007.
  • The Bank has introduced innovations such as engagement with the media ahead of Monetary Policy Committee meetings and the publication of its submissions.
  • The training workshop was attended by 25 journalists from the Central Region.

Sources:

  • Ghana News Agency, August 24, 2022
  • Bank of Ghana, Regional Media Engagements