The Bank of Ghana (BoG) has emphasized the media’s essential role in communicating economic and financial information to the public, calling for a renewed commitment to uphold high journalistic standards.
Speaking at a two-day training programme for journalists in Kumasi, the BoG’s Head of Communications, Bernard Otabil, stressed that while speed is critical in news delivery, it should not come at the expense of accuracy and quality.
He reminded journalists that their work directly impacts public understanding of economic matters, making responsible reporting crucial.
“We are in an era where speed is prioritized over standards, but the power we wield must be used responsibly,” Otabil cautioned.
He outlined that providing factual, objective information and offering insightful analysis, are key expectations the public should have from media business pages and programmes providing accurate information such as inflation rates or company profits.
Otabil acknowledged that media performance in the second area has been inconsistent, urging journalists to strive for deeper analysis that will enhance the public’s understanding of economic policies and trends.
“I must say we have patchy work in this regard, and there is room for improvement. Your work has the power to shape public perception, so it is essential that we get it right.”
The training session aimed to equip journalists with skills to strengthen financial reporting. Otabil encouraged participants to see themselves as vital partners in the BoG’s mission to foster transparency and public trust.
“This programme is designed to inspire you to aspire to the highest standards of this profession. We cannot overlook the value of what you do,” he added.
Participants were engaged in discussions on ethical reporting, macroeconomic analysis, and the significance of macroeconomic indicators. They explored monetary practices in Ghana and gained insights into the dynamics of inflation.
Additionally, the workshop covered developments in the foreign exchange market, how to interpret the Monetary Policy Committee (MPC) Data Pack, and the concept of next-of-kin.
The Ashanti regional president of the Ghana Journalist Association (GJA), Kingsley E. Hope lauded the Bank of Ghana (BoG) stating that the workshop will provide invaluable insights into the intricacies of monetary policies and deepen participants’ understanding of Ghana’s economic landscape.
“This program will not only sharpen our skills in monetary practices but also broaden our understanding of the country’s economy. It offers us the opportunity to explore new storytelling techniques that can make economic reporting more engaging and accessible to the public,” Mr. Hope remarked.
“Frequent workshops like this will help boost the media’s capacity in financial reporting, ensuring that journalists are well-equipped to deliver accurate and insightful information to the public,” he added.
Reporting By Jonathan Ofori, Asaase Newsroom, Kumasi
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