Congratulation is in order here, as we welcome the new governor of the Central bank, who was sworn into office by the President, John Dramani Mahama, on Monday.
He assumed the position, after the retirement of Dr. Kofi Wampah, having been a deputy for some time now.
The new governor, have a herculean task before him, and he should roll up his sleeves and get to work immediately, as his predecessor, did not live a healthy legacy for him to build on.
The fact that, inflation is in double digits is no longer news, the fact that, the cedi, have seen remarkable depreciation against its major trading currencies, is an unfortunate burden that we all as Ghanaians, had to grapple with.
All the solutions implemented to arrest the free fall, did not yield any meaningful results, if anything at all, it rather escalated the situation, making people lose confidence in the currency.
The new governor and his deputies, must revive that confidence, they must put their best foot forward and ensure that, all they do going forward is to strengthen and build confidence in our currency by extension the economy.
Interest rate keeps going up, which is threatening the survival of businesses, Dr. Issahaku, must try to lower the rate the Bank of Ghana, lend to commercial banks, so that they will in turn lower the rate, they lend to businesses.
It is time we try new things and ideas, we cannot be doing the same thing and expect different results. He must move out of the comfort zone of being a governor and engage the stakeholders to come out with workable solutions to put the economy, in terms of the monetary policy back on track.
This is a difficult time for anybody, but it is the time that also raises change managers, champions and those who strive to be different.
We have absolute faith in Dr. Issahaku and his new team, the BoG, has got the best team to turn things around.
We will once again, like to wish them well, they have to live a legacy that will surpass what their predecessors left.