Paul Acquah
Ref Batch
I
Focus Area(s)
Ref Batch Number
1
Critical Tasks
Country of Reform
Interviewers
Itumeleng Makgetla
Name
Paul Acquah
Interviewee's Position
Governor
Interviewee's Organization
Bank of Ghana
Language
English
Nationality of Interviewee
Ghanaian
Town/City
Accra
Country
Date of Interview
Reform Profile
No
Keywords
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.
Transcript
Headshot
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.
Full Audio File Location
Full Audio File Size
60 MB
Full Audio Title
Paul Acquah Interview