At the request of Bank of Ghana (BoG) and fully funded by Switzerland’s State Secretariat for Economic Affairs, SECO, the International Monetary Fund (IMF) has assigned a Resident Advisor in financial sector supervision to Bank of Ghana to provide technical assistance and to assist in building the capacity of the banking supervision function.
The central bank in a statement announcing the appointment said the Advisor’s placement is a continuation of cooperation between Bank of Ghana, the IMF and SECO, which commenced in 2015 and has already seen the assignment of a previous Advisor until 2018.
Achievements from the past collaborative effort according to the statement include the passage of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), the development and issuance of the Corporate Governance Directive 2018 and the Capital Requirement Directive of 2018.
The Advisor is Mr. Leonard Chumo.
He has first-hand knowledge of supervisory work from leading central banks, as well as previous technical assistance experience in the West Africa Region.
Mr. Chumo’s three year-assignment commenced on 6th February 2023.
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