The Bank of Ghana and the Central Bank of Liberia have formalised a Strategic Partnership for Capacity Building and Technical Assistance Programme, deepening institutional cooperation between the two West African central banks as they navigate an increasingly complex financial landscape.
The agreement, sealed in Monrovia, marks what officials described as a significant step in strengthening technical collaboration, knowledge transfer and operational support across a wide range of core and emerging central banking functions.
Speaking at the signing ceremony, the Second Deputy Governor of the Bank of Ghana, Mrs. Matilda Asante-Asiedu, represented Governor Dr. Johnson Pandit Asiama and emphasised Ghana’s commitment to deepening bilateral cooperation. She described the occasion as “the formal establishment of a Strategic Partnership for Capacity Building and Technical Assistance Programme” between the two institutions, highlighting its strategic importance.
The Deputy Governor noted that the Bank of Ghana and its Liberian counterpart have, over the years, maintained a relationship built on mutual respect and constructive engagement. Operating within a dynamic regional and global economic environment, she said, both institutions recognise the importance of sustained collaboration in enhancing resilience, policy effectiveness and institutional credibility.
The newly signed Memorandum of Understanding creates a structured framework for cooperation in macroeconomic forecasting, monetary policy operations, reserve management, banking supervision, anti-money laundering compliance, digital currency development, currency management and the application of artificial intelligence in central banking. The arrangement is also designed to remain flexible, allowing both institutions to expand cooperation into other areas as new priorities emerge.
According to her, the agreement represents a deliberate effort to strengthen institutional capacity while responding to the evolving demands of modern central banking. “This MoU represents our collective commitment to delivering effective technical assistance, advancing capacity-building initiatives, and providing mutual support in key areas of central banking operations,” she stated.
The partnership places emphasis on emerging domains such as central bank digital currencies, cryptocurrency oversight and advanced data-driven systems, signalling a shared ambition to remain at the forefront of financial sector innovation in the sub-region.
She stressed that the partnership is grounded in the belief that collaboration enhances institutional strength, enabling both central banks to leverage shared expertise and experience. By formalising cooperation through a clear governance structure, the two institutions aim to improve operational efficiency, policy coordination and regulatory effectiveness.
The initiative coincides with increasing cooperation among West African monetary authorities as economies navigate inflationary pressures, financial sector reforms and the digital transformation of payment systems.
Mrs. Asante-Asiedu expressed optimism that the partnership would contribute to institutional development in both countries and support macroeconomic stability. She concluded that the collaboration would not only strengthen the two central banks but also advance the “shared prosperity of our two nations.”
Following the signing, both institutions are expected to begin implementing joint programmes, technical exchanges and targeted capacity-building initiatives in the months ahead, strengthening cross-border cooperation within the region’s financial architecture.
