IMF appoints financial supervision adviser for Bank of Ghana

The Bank of Ghana says the International Monetary Fund (IMF) has appointed a Swiss-funded financial supervision adviser to provide it with technical support.

The bank said this in a statement on Tuesday.

The appointment is coming as the West African nation strives to obtain executive board approval for a 3-billion-dollar bailout.

It added that the placement represented continued cooperation between Ghana, the IMF, and the Swiss State Secretariat for Economic Affairs.

The adviser, Leonard Chumo, began his assignment on Feb. 6.

He is expected to stay for three years and help support the bank’s implementation of Pillar 2 and 3 of the Basel II and III capital frameworks, and strengthen its risk-based supervisory framework, the statement said.