The Head of Corporate and Investment Banking at Stanbic Bank has called for a shift from short-term monetary interventions to deeper structural and fiscal reforms to sustain the country’s recent gains in foreign exchange (forex).
Musah Abdallah, speaking at the Graphic Business/Stanbic Bank Breakfast Meeting, he emphasised the importance of a more strategic and coordinated approach to economic management.
The breakfast meeting, held under the theme “Sustaining Forex Gains: Business and Economic Impact,” brought together policymakers, economists, industry leaders and financial experts to discuss how Ghana can convert recent foreign exchange stability into long-term economic growth.
Delivering his introductory remarks, Mr. Abdallah said, “Sustaining our forex gains will require more than short-term fixes.
It would demand deep structural reforms, ongoing fiscal discipline, complementary and progressive monetary policy, and continuous support for the productive sectors of our economy.”
He further stressed the importance of translating macroeconomic stability into practical benefits for businesses and individuals.
“Today’s theme is so timely, and there are some questions we need to answer, like: how do we protect and extend the progress made? How do we channel forex gains into real, tangible development outcomes? How do we ensure that businesses thrive in the new environment?” he asked.
He explained that Stanbic Bank views its role as more than a financial intermediary, positioning itself instead as a partner in national development.
At Stanbic Bank, these questions are core to our mission. We are committed to being more than just a financial services provider.
"We aspire to partner in nation-building, helping to navigate the complexities of the macroeconomic environment, whilst equipping businesses and individuals to make informed, future-ready decisions,” he stated.
He further called for broader stakeholder engagement and public involvement in shaping forex-related policies.
We believe that the forex discussions should not be confined to boardrooms or trading floors. We must stimulate national conversations around how these gains affect the real economy,” he said.
The Graphic Business/Stanbic Bank Breakfast Meeting is a quarterly thought leadership event that brings together relevant stakeholders to dialogue on key national economic issues.
Previous editions have addressed topics ranging from industrialisation, agriculture, public-private sector partnership, and private sector growth to access to credit and many others.
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