The International Monetary Fund (IMF) has assigned Leonard Chumo, a resident adviser in financial sector supervision to the Bank of Ghana (BoG) to provide technical assistance and help build the capacity of the banking supervision function.
A statement issued by the central bank on Tuesday (14 February) said the move was at the request of the Bank of Ghana (BoG) and fully funded by Switzerland’s State Secretariat for Economic Affairs (SECO).
“The adviser’s placement is a continuation of cooperation in this area between the Bank of Ghana, the IMF and SECO, that started as early as in 2015 and had already seen the assignment of a previous Adviser until 2018.”
“Achievements from the past collaborative efforts include the passage of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), the development and issuance of the Corporate Governance Directive 2018, and the Capital Requirement Directive 2018,” the statement said.
Chumo, brings first-hand knowledge of supervisory work from leading central banks as well as previous technical assistance experience in the Western Africa region.
He started his assignment in the Bank of Ghana on 6 February 2023 and is expected to stay for three years.
Among others, Chumo will support the implementation of Pillar 2 and 3 of the Basel II/ III capital frameworks, as well as strengthen the Risk-Based Supervisory framework at the Bank of Ghana.
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