Responsible journalism crucial to promoting economic stability – Second Deputy Governor
The Second Deputy Governor of the Bank of Ghana (BoG), Mrs Matilda Asante-Asiedu, has underscored the critical role of a free and responsible press in safeguarding public trust, promoting economic stability, and supporting national development.
She said trust remained the most valuable asset of both the media and the financial sector.
Speaking at the commemoration of this year’s World Press Freedom Day organised by the Ghana Journalists Association (GJA) in Accra on Saturday, Mrs Asante-Asiedu, she said while banks relied on public confidence to remain stable, media organisations depend on credibility to maintain relevance and sustain their operations.
“A bank can absorb temporary losses if confidence remains intact, just as a media organisation can withstand financial pressure if public trust is preserved. But when confidence and trust erode, recovery becomes significantly more difficult,” she stated.
Mrs Asante-Asiedu noted that misinformation and disinformation had emerged as major threats globally, warning that inaccurate reporting could undermine public confidence and fuel unnecessary anxiety, particularly in the financial sector.
She cited the World Economic Forum’s Global Risks Report, which ranked misinformation and disinformation among the most severe global risks facing the world today.
The Second Deputy Governor acknowledged the contribution of the media to Ghana’s democratic development, describing it as a vital pillar of the country’s constitutional order.
She also welcomed Ghana’s improved performance on the World Press Freedom Index, where the country moved from 52nd position in 2025 to 39th in 2026, its strongest showing in five years.
Despite the progress, Mrs Asante-Asiedu said the media industry continued to grapple with challenges, including economic sustainability, declining public confidence, and the growing spread of false information.
She stressed that the Bank of Ghana considered the media a key partner in communicating monetary policy decisions and helping the public understand complex economic issues.
For that reason, she said the central bank had intensified efforts to strengthen engagement with journalists through regular training programmes, post-Monetary Policy Committee briefings, and the publication of individual committee members’ policy submissions to enhance transparency and accountability.
Other initiatives, she noted, include the establishment of a Regional Press Corps, dedicated WhatsApp communication platforms for journalists, and the introduction of the Economic and Financial Journalist of the Year Award in partnership with the GJA.
Touching on developments in the foreign exchange market, Mrs Asante-Asiedu explained that Ghana’s managed floating exchange rate regime naturally allowed for both appreciation and depreciation of the cedi.
She cautioned, however, that reporting exchange rate movements without adequate context could trigger panic, encourage speculative demand for foreign currency, and heighten market volatility.
“When the cedi stabilises, businesses can plan with greater certainty, import prices become more predictable, and households are better able to preserve the value of their incomes and savings,” she said.
Mrs Asante-Asiedu stated that protecting the value of the cedi was a shared responsibility involving policymakers, businesses, households and the media.
She reaffirmed the Bank of Ghana’s commitment to maintaining prudent monetary policies to sustain macroeconomic stability and support long-term growth.
The Second Deputy Governor called for stronger collaboration between the media and policymakers, stressing that responsible journalism should inform the public without inflaming tensions, question authority without prejudging issues, and report accurately without distortion.
“Let us strengthen our partnership in the service of the national interest,” she urged.
BY KINGSLEY ASARE
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