Ernest Kwamina Yedu Addison (born 1963) is a

Ghanaian Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in Ghana–Ivory Coast border, the west, Burkina ...

economist serving as the current and 15th governor of the

Bank of Ghana The Bank of Ghana ( BoG) is the central bank of Ghana. It is located in Accra and was formed in 1957. The bank is active in developing financial inclusion policy and is a member of thAlliance for Financial Inclusion History The Central Ban ...

. He had previously worked at the same central bank as director of research from 2003 to 2011, and as an economist at the

African Development Bank The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies i ...

Early life and education

Addison attended

Mfantsipim School Mfantsipim is an all-boys boarding secondary school in Cape Coast, Ghana, established by the Methodist Church in 1876 to foster intellectual, moral, and spiritual growth on the then Gold Coast. Its founding name was Wesleyan High School and ...

, a Methodist college in

Cape Coast Cape Coast is a city, fishing port, and the capital of Cape Coast Metropolitan District and Central Region of Ghana. It is one of the country's most historic cities, a World Heritage Site, home to the Cape Coast Castle, with the Gulf of Guinea ...

with alumni such as former UN Secretary General

Kofi Annan Kofi Atta Annan (; 8 April 193818 August 2018) was a Ghanaian diplomat who served as the seventh secretary-general of the United Nations from 1997 to 2006. Annan and the UN were the co-recipients of the 2001 Nobel Peace Prize. He was the founder ...

. After Mfanstipim he went to the

University of Ghana The University of Ghana is a public university located in Accra, Ghana. It the oldest and largest of the thirteen Ghanaian national public universities. The university was founded in 1948 as the University College of the Gold Coast in the Br ...

for his Bachelor of Arts degree in economics from 1982 to 1986. He proceeded to

Cambridge University , mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Schola ...

for his

Master of Economics The Master of Economics (MEcon or MEc) is a postgraduate master's degree in economics comprising training in economic theory, econometrics, and/or applied economics. The degree is also offered as an MS or MSc, MA or MCom in economics; varian ...

from 1987 to 1989. In 1993, he obtained his

Doctor of Philosophy A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common Academic degree, degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields ...

(Ph.D.) degree in economics from

McGill University McGill University (french: link=no, Université McGill) is an English-language public research university located in Montreal, Quebec, Canada. Founded in 1821 by royal charter granted by King George IV,Frost, Stanley Brice. ''McGill Universit ...

. His Ph.D. dissertation, done under the direction of John Kurien, studied the ''Macroeconomic implications of sectoral policy incentives under structural adjustment: a general equilibrium analysis of sectoral terms of trade changes in the economy''.

Career

After completing his doctorate at

McGill McGill is a surname of Scottish and Irish origin, from which the names of many places and organizations are derived. It may refer to: People * McGill (surname) (including a list of individuals with the surname) * McGill family (Monrovia), a promin ...

, Addison returned to Ghana and joined the

in 1994 as an economist. He rose through the ranks to become the Deputy Chief and Head of the Economic Analysis and Policy Division of the Research Department. During his tenure at the bank he was a member of several committees including the Open Market Operations Committee, Money Market Auction Committee and the Editorial Committee and also secretary to the Financial Programme Implementation Committee and the Financial Policies Committee. He chaired an

Economic Community of West African States The Economic Community of West African States (ECOWAS; also known as in French and Portuguese) is a regional political union, political and economic union of fifteen countries located in West Africa. Collectively, these countries comprise an ...

Task Force set up by the Authority of Heads of State of ECOWAS to perform feasibility studies culminating in the setting up of the West African Monetary Institute. Addison served as the chief economist with the West African Monetary Institute from 2000 to 2003. Prior to leaving the Bank of Ghana, he worked under

Kwesi Amissah-Arthur Paa Kwesi Bekoe Amissah-Arthur (born William Edmund Davidson Amissah-Arthur) (29 April 1951 – 29 June 2018) was a Ghanaian economist, academic and politician who was the fifth Vice-President of Ghana's 4th Republic, in office from 6 August 2012 ...

, who was then its governor and later became vice-president of

Ghana Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and To ...

. In 2012, Addison was a lead economist at the

's Southern African Resource Centre in

Pretoria Pretoria () is South Africa's administrative capital, serving as the seat of the Executive (government), executive branch of government, and as the host to all foreign embassies to South Africa. Pretoria straddles the Apies River and extends ...

, South Africa.

Governor of the Bank of Ghana

In March 2017, Nana Addo Danquah Akufo-Addo, the president of Ghana, forwarded Addison's name to the Council of State for consideration and approval as the governor of the Bank of Ghana. This was to fill the vacancy left by the resignation of the then governor Dr. Abdul Nashiru Issahaku. He was subsequently approved and then appointed as the governor of the Bank of Ghana on 1 April 2017 with a 4-year tenure which ends in March 2021. In February 2021, President Akufo-Addo reappointed him as the governor of the Bank of Ghana and renewed his tenure for another 4-years, awaiting for approval by the Council of State.

Other positions

As central bank governor, Addison automatically serves a member on many

Government of Ghana The Government of Ghana was created as a parliamentary democracy, followed by alternating military and civilian governments in Ghana. In January 1993, military government gave way to the Fourth Republic after presidential and parliamentary electi ...

and international agencies that deal with financial policy and management, including *

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

(IMF), ex officio member of the board of governors * Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), ex-officio chairman of the board *

Ghana Cocoa Board The Ghana Cocoa Board (COCOBOD) is a Ghanaian government-controlled institution that fixes the buying price for cocoa in Ghana. Farmers are protected from the volatile prices on the world market through the price-fixing. Besides the higher quality ...

, member *

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the G20 London summit in April 2009 as a successor to the Financial Stability Forum ...

(FSB), member of the Regional Consultative Group for Sub-Saharan AfricaMembers of the FSB Regional Consultative Group for Sub-Saharan Africa

(FSB).

References

{{DEFAULTSORT:Addison, Ernest Ghanaian economists Governors of Bank of Ghana 1963 births Living people Mfantsipim School alumni University of Ghana alumni McGill University alumni Alumni of the University of Cambridge Ghanaian Christians People from Central Region (Ghana)