The journey of Ghana’s national currency, the Cedi, is “a testament to the enduring spirit of the Ghanaian people,” Clare Lombardelli, Deputy Governor for Monetary Policy at the Bank of England, has said.
Delivering opening remarks at the Pan-African Central Bank Governors’ Conference in Accra, Ms Lombardelli praised the Bank of Ghana on the occasion of Cedi@60, which marks six decades since the currency’s introduction. She described the Cedi as “a symbol of sovereignty, resilience, and economic aspiration,” highlighting the pivotal role central banks play in shaping the economic destiny of nations.
The two-day conference, co-hosted by the Bank of Ghana, the Bank of England, and the UK Foreign, Commonwealth and Development Office (FCDO), brings together central bank leaders from across Africa to exchange insights on governance, decision-making, and resilience in central banking.
“The challenges facing central banks today are complex and evolving. From maintaining price stability in the face of global shocks, to supporting sustainable economic growth, to safeguarding financial stability in an increasingly interconnected world; our responsibilities are immense,” she said.
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Ms Lombardelli emphasised that central banks do not face these challenges alone, noting the value of collaboration and shared learning. “By coming together, we can share insights, pool our expertise, and develop innovative solutions that are tailored to the realities of our respective economies,” she said.
She also highlighted the importance of gender equality in central banking, urging institutions to reflect the diversity of the societies they serve. “Institutions that reflect the diversity of the societies they serve are more effective, more innovative, and more resilient,” she said, calling for mentorship and leadership development for talented women at all levels.
The conference, she said, offers a unique opportunity for interaction and peer-to-peer learning. “Whether you are a Governor, a Deputy Governor, or a senior adviser, your voice matters. The diversity of our experiences is our greatest strength,” she added.
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Ms Lombardelli concluded by acknowledging the efforts of those who organised the conference and encouraging participants to engage actively. “Let us be candid about the challenges we face, and generous in sharing what has worked; and what has not. The relationships we build here can become the foundation for ongoing collaboration long after the conference ends,” she said.
Source: Starrfm.com.gh
