Ernest Addison: The importance of promoting financial stability and currency innovations

Opening remarks by Dr Ernest Addison, Governor of the Bank of Ghana, at the ICCOS Currency Conference, Accra, 11 February 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Salutations

1. Good morning and let me say 'Akwaaba', which means a warm welcome in our local language, to all delegates especially those who are in Accra for the very first time. Let me also extend our appreciation to the Currency Research International (ICCOS) for selecting Accra as the host city for this year's Middle East & Africa (MEA) Cash Cycle Seminar. This unique event brings together central bankers, commercial bankers and other industry experts to deliberate and share experiences on different aspects of currency cash management, distribution and circulation within the broader payments systems framework.

2. Ladies and Gentlemen, this Conference is taking place at a time that the Bank of Ghana is embarking on some crucial reforms aimed at ensuring financial stability and promoting efficiency in Ghana's payments system. As we all know, efficient and functional currency and payment systems are fundamental to the effective functioning of any financial system. And this is broadly in line with the Bank of Ghana's core mandate to achieve price stability, contribute to the promotion and maintenance of financial stability, and ensure a sound payments system.