The International Monetary Fund (IMF) has suggested that appointing a financial advisor to the Bank of Ghana might jeopardize the Central Bank's independence and regulatory operations.
The IMF hired Leonard Chumo as a financial adviser to the Bank of Ghana in response to a request for technical support and aid in building the capacity of the country's banking supervision function.
The resident advisor, who is funded by Switzerland's State Secretariat for Economic Affairs (SECO), is supposed to give technical advice and help strengthen the capability of the country's financial supervisory function.
According to a news statement from the Bank of Ghana, "the Advisor's placement represents a continuation of collaboration in this area between the Bank of Ghana, the IMF, and SECO, which began as early as 2015 and had previously seen the assignment of a prior Adviser till 2018".
Addressing queries from Parliament's Appointments Committee, Amin Adam stated that there is nothing wrong with the appointment and that the Bank of Ghana is eager to cooperate with Mr Chumo.
"Whether someone is nominated to sit at the Bank of Ghana or in Washington, that link already exists, especially now that the IMF is committing up to $3 billion to Ghana...
I see nothing wrong with the IMF sending an official