Bank of Ghana Governor Henry Kofi Wampah will retire at the end of March, he told Reuters on Tuesday, cutting short a four-year term during which he has struggled to rein in inflation and stem the decline of the national cedi currency.
Wampah, whose term officially ends on Aug. 5, said he had informed President John Mahama of his intention to leave early, adding that the decision was partly linked to presidential and parliamentary elections planned for November.
“I told him I wanted to leave office early and we have agreed that I will exit at the end of March,” Wampah said. “It is just fair to leave early in order to give enough room for my successor, whoever it might be, to settle down before we get to the elections.”
Ghana, which exports cocoa, gold and oil, is under a three-year International Monetary Fund aid programme to stabilise an economy dogged by budget deficits, ballooning public debt and inflation that consistently tops government targets.
Wampah said one of his two deputies, either Millison Narh or Abdul Nashiru Issahaku, was expected serve as interim central bank governor until Mahama chooses a permanent successor.