Paul Amoako Acquah is a Ghanaian economist and a former Deputy Director for the Africa Department of the International Monetary Fund from 1998 to 2001.[1] He is also a former Governor of the Bank of Ghana (2001-2009).[2] During his tenure as Governor of the Bank of Ghana he implemented the re-denomination of the Ghanaian cedi.[3][4]

Early life and education

He was born in Juabo in the Western Region of Ghana.[5][6] Acquah had his secondary education at St. Augustine's College. He later obtained his degree in Economics from the University of Ghana, Legon. He proceeded to obtain his master's degree from Yale University and his PhD from University of Pennsylvania.[4]

Career

Acquah joined the International Monetary Fund as an economist. He worked for the fund and served in various capacities till 1998 when he became the fund's deputy director of its Africa department. In 2001 he resigned from the IMF and was appointed by the then President of Ghana, John Kufuor as the Governor of the Bank of Ghana[7] until 2009.

Acquah became Governor of the Bank of Ghana in 2001. One of his major achievement was the re-denomination of the cedi and the introduction of the Pesewa in 2007.[8] Four zeros were knocked off the then currency, this led to the reintroduction of the pesewa which is the basic unit of the Ghanaian cedi.[9][10][11]

After leaving the Bank of Ghana, Paul Acquah joined a new team setup to oversee the restructuring and development of Tema Oil Refinery and Ghana's crude oil supply. Other team members were Kwabena Duffuor, Chief of Staff John Henry Martey Newman, and Minister of Energy Joe Oteng-Adjei.[4]

Awards

In 2005, Acquah won the Emerging Markets award for Africa Central Bank Governor of the Year.[12]

References

  1. ↑ "Biographies (alphabetical order) Dr. Acquah Paul A., Governor, Bank of Ghana" (PDF). www.minefe.gouv.fr. Retrieved 6 August 2013.
  2. ↑ "Dr. Paul Acquah: The legendary banker steps out". ModernGhana. 2009-08-20. Retrieved 2 August 2013.
  3. ↑ "Paul Acquah proceeds on leave". ModernGhana. Retrieved 6 August 2013.
  4. 1 2 3 "Dr Paul Amoako Acquah". africa-confidential. Retrieved 6 August 2013.
  5. ↑ "Wassa-Juabo appeals for potable water". ModernGhana. Retrieved 12 August 2013.
  6. ↑ "Map of Juabo, Ghana". weatherchannel10. Retrieved 12 August 2013.
  7. ↑ "IMF is right to exit bailout programme - Asiedu-Mantey". GhanaWeb. Retrieved 2017-10-17.
  8. ↑ "The Re-denomination of the Cedi". Ghana Web. Retrieved 7 August 2013.
  9. ↑ "Redenomination cost $66.2 million". Ghana Web. Retrieved 7 August 2013.
  10. ↑ "BoG outdoors specimens of Ghana cedi notes, pesewas". Ghana Web. Retrieved 7 August 2013.
  11. ↑ "Ghana's One Pesewa Coin deserves respect and fair trial". Vibe Ghana. Retrieved 7 August 2013.
  12. ↑ "Paul Acquah Is African Central Bank Governor Of The Year". Modern Ghana. Retrieved 6 August 2013.
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