Paul Acquah

Governor
Bank of Ghana
Focus Area(s): 
Civil Service
Critical Tasks: 
Computerization of records
Civil service recruitment
Downsizing
Interviewers: 
Itumeleng Makgetla
Country of Reform: 
Ghana
Town/City: 
Accra
Country: 
Ghana
Date of Interview: 
Friday, September 18, 2009
Abstract 

Paul Acquah discusses his work in reforming and refocusing the Central Bank of Ghana. He outlines his goals to focus the Central Bank on inflation targeting and to shift emphasis from accounting to economics. Acquah details his success in restructuring and streamlining the organization and reforming its institutional culture, particularly by trimming down the staff, making selection procedures more competitive, and computerizing and mechanizing many jobs. He discusses the success and challenges of a voluntary departure program to cut down excess staff and the role of communication with the government and public in building credibility and support for reform.   

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Full Interview: 
60 MB
Paul Acquah Interview
Profile: 
At the time of this interview, Paul Acquah was in his second term as governor of the Bank of Ghana. Acquah’s leadership of the central bank is credited with averting an economic crisis and bringing growth rates to over 5%, stabilizing the Ghanaian currency, and reducing inflation. He also cut the staff of the central bank by more than 1,000 workers in three years and increased price stability. Before assuming the role of governor of the central bank in 2001, he worked as an economist and a deputy director at the International Monetary Fund. In 2005, he won the Emerging Markets Award for Africa Central Bank Governor of the Year. He received his master’s degree from Yale University and completed his doctorate at the University of Pennsylvania.
Language: 
English
Nationality of Interviewee: 
Ghanaian
No
Paul Acquah
I
1
Keywords 
institutional culture reform
institutional restructuring
managing inflation
monetary policy
computerization
Downsizing
recruitment
training