Ghana’s central bank governor, Dr. Johnson Asiama, stated Ghana's economic recovery shows the importance of strong domestic debt markets. This strengthens economic stability across Africa. Dr. Asiama spoke at the Bank for International Settlements (BIS) Roundtable of Governors from African Central Banks.
The event took place in Basel on Saturday, June 27, 2026. Dr. Asiama shared lessons from Ghana's economic journey. He explained how domestic debt markets support resilience and financial stability. His remarks underscored a path forward for African economies facing similar challenges.
This discussion comes as African economies increasingly look inwards for funding. They need to finance development projects and meet their financial obligations. Building deeper and more efficient capital markets is crucial for these nations. This approach reduces reliance on foreign borrowing and helps withstand global economic shocks.
“Ghana’s economic journey from crisis to recovery offers important lessons on the growing role of domestic debt markets in strengthening resilience while safeguarding financial stability,” Dr. Asiama said. He stressed that robust domestic debt markets are vital. They reduce economic vulnerabilities and broaden financing choices. This also promotes long-term economic growth across the African continent.
Strengthening domestic capital markets improves countries' ability to raise local money. This lessens their dependence on foreign loans. It also helps them better handle global economic downturns. This strategic shift protects national economies from external pressures and currency fluctuations.
The BIS roundtable brought together central bank governors from various African countries. They discussed major economic developments and the resilience of financial sectors. Key policy priorities for the continent's economies were also on the agenda. The discussions allowed governors to share experiences on improving financial systems amidst changing global conditions.
These insights are particularly relevant for Ghana, which has navigated significant economic turbulence. The country successfully implemented measures to stabilize its economy. This included managing its public debt and enhancing its financial market infrastructure. The focus on domestic solutions offers a template for other nations seeking sustainable economic growth.
Dr. Asiama’s comments signal a continued focus on strengthening Ghana's financial systems. Policymakers will likely explore further ways to deepen the domestic debt market. This includes attracting more local investors and developing new financial products. Such steps aim to reduce future economic vulnerabilities and promote long-term stability.