Dr Johnson Asiama, the Bank of Ghana Governor, has admitted that stability is good, but people are hungry.
The BoG Governor detailed that there is unemployment everywhere.
Dr Johnson Asiama further linked the unemployment crisis to the performance of banks.
He revealed that the central bank is focused on stabilising the banking sector to enable lower interest rates for businesses, aimed at boosting growth and job creation.
The BoG Governor also highlight that the high interest rates are killing businesses.
According to Dr Johnson Asiama, the BoG is working to bring down the high interest rates.
He quizzed how businesses borrow money above 30% interest rate, how do you expect that business to repay?
Speaking in a video shared on April 5, 2026, the Governor explained, “Stability is good, but people are hungry. There’s unemployment everywhere. So, the next step is to strengthen the markets.
“Our focus currently is to engineer a low-interest environment and a stable exchange environment”, he said.
“If a business borrows money at above 30%, how do you expect that business to repay? Interest rates are 30%, what are you going to use the money for?” he questioned.
“It’s not surprising there’s a lot of unemployment. It’s not surprising the private sector is still really under pressure”, he said.
In related news, Dr Johnson Asiama, the Governor of the Bank of Ghana (BoG), has cautioned that the Middle East conflict poses fresh inflation risks for Ghana.
The BoG governor disclosed that the escalating tensions in the Middle East could threaten Ghana’s improving inflation.
Dr Asiama highlighted that the Middle East tension is disrupting major global energy and shipping routes.
He further explained that the tension is creating an increasing volatility in global oil markets.
Speaking at the opening of the 129th Monetary Policy Committee (MPC) meeting, the BoG governor stated, “A significant external development has entered the picture, and that has to do with the escalation of the conflict in the Middle East. This conflict is disrupting key energy and shipping corridors”.
“It is increasing volatility in global oil markets, and it is introducing new uncertainty into the trajectory of global inflation,” he said.
He added, “For Ghana, the transmission channels are clear. Sustained oil price increases could raise the risk of imported inflation and could also tighten global financial conditions.”
“Geopolitical uncertainty tends to support gold prices… This could benefit our trade balance,” he added.
The BoG Governor highlighted that Ghana’s macroeconomic indicators have improved, but there is a need to carefully weigh global risks before making any decision.
Meanwhile, Francis Xavier Sosu, the Member of Parliament for Madina, has said no amount of jobs created by the government will absorb every unemployed person.
Speaking in an interview on Metro TV on Monday, March 30, 2026, Francis Xavier Sosu stated, “Government will create jobs. But no amount of jobs created by the government will absorb every unemployed person. You must understand that. Let’s be honest,” he said.
“It’s not about politics. Hunger doesn’t know politics. A lack of jobs doesn’t know political parties. If you want to tie your personal growth and jobs to NDC or NPP, I’m telling you, you’ll lose it,” Sosu added.
He added, “No political person will be a politician forever. I will do my own, my time will come, I will leave. But I’ve said too many times that you are here because you want to help the people. After service, I will go.”
“Many young people have come to my office, and by the time they are leaving, they turn into entrepreneurs. One of the things we do a lot is business support,” he said.
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