By Francis Ntow, GNA
Accra, Nov. 8, GNA – Economic policies mean little to citizens if they do not understand them, Dr Johnson Pandit Asiama, Governor of the Bank of Ghana (BoG), said, describing the media as an essential partner in promoting public understanding of economic developments.
Financial sector reforms, which were often technical and complex, could only gain public trust if journalists explained them in simple terms, including who benefited, what had changed and how citizens could protect their money.
Professional journalism, he said, served as society’s compass, helping the public to distinguish facts from falsehood and deepen their understanding of monetary policy, inflation, exchange rates, financial sector reforms and digital finance.
Dr Asiama was speaking at the 30th Ghana Journalists Association (GJA) Media Awards on Saturday, noting that the Central Bank could not carry out its mandate in isolation from the media and professional journalists.
“Our policies are most effective when they are clearly understood by the public. Transparency, credibility, and accountability require open and effective engagement with all stakeholders, including the media,” Dr Asiama said.
He said the growing partnership between the Central Bank and the media had led to the establishment of the Governor’s Economic and Financial Story of the Year Award to encourage high-quality reporting and deepen public understanding of economic issues.
“Our objective is simple: to invest in the development of journalists who can continue to elevate the quality of economic and financial reporting in Ghana,” the Governor said.
At the just-ended GJA Media Awards, Ms Esther Aidoo of the Ghana Broadcasting Corporation (GBC) won the Governor’s Economic and Financial Story of the Year Award.
The award package includes sponsorship to attend the International Monetary Fund (IMF)/World Bank Group (WBG) Spring or Annual Meetings, a laptop, a one-year internet data subscription, and opportunities for fellowships and scholarships for further studies.
Dr Asiama said the Bank’s decisions affected every household, business and market in the country, adding that accurate reporting enabled Ghanaians to understand why interest rates and prices changed and how the Bank worked to maintain economic stability.
He said improved economic understanding not only benefited the Bank but also empowered citizens to save better, borrow wisely, invest carefully and hold institutions accountable, thereby strengthening financial literacy.
On digital finance, he said the media had a crucial role in promoting safe adoption by educating the public on mobile money, digital payments, fraud risks and consumer rights, particularly as millions of Ghanaians increasingly conducted financial transactions without visiting banking halls.
Dr Asiama acknowledged that technological advancements had transformed how information was created, distributed and consumed, providing greater opportunities for citizens to participate in public discussions and share information.
However, he said the same technologies had contributed to the spread of misinformation, disinformation, online abuse, misleading data and hate speech.
“As guardians of public discourse, journalists are essential for building social unity, encouraging well-informed discussions, and safeguarding democratic principles,” he said.
He urged journalists and media professionals to go beyond headlines and sensationalism and pursue depth, accuracy and context to ensure that economic reporting informed decisions rather than fuelled fear and confusion.
Dr Asiama reaffirmed the Bank’s commitment to working closely with the media, saying the partnership was not a favour to journalists but a necessity for a stable, transparent and inclusive economy.
The 30th GJA Media Awards were held on the theme: “Celebrating Excellence, Advancing Media Freedom and Combating Hate Speech in the Digital Age,” with stakeholders emphasising the need to protect press freedom while promoting responsible journalism.
GNA
Edited by Agnes Boye-Doe
Reporter: Francis Ntow
Email: [email protected]