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Maxwell Opoku-Afari was appointed First Deputy Governor of the Bank of Ghana in 2017.
Prior to assuming this role, Maxwell worked for the International Monetary Fund (IMF) from 2009. As Deputy Division Chief in the Regional Studies Division in the African Department, he supervised the production of one of the IMF’s flagship publication, The Regional Economic Outlook for Sub-Saharan Africa. He then served as Mission Chief for Mauritius, leading policy discussions on issues including the financial sector, macro-financial linkages, fiscal and monetary policies, and growth strategies.
While at the IMF, Maxwell participated in negotiation missions to several African and Caribbean countries, handled extensive policy discussions on Rwanda, Zambia, Jamaica, and Sao Tome and Principe, and also acted as a reviewer of country policy documents for several developing countries.
Maxwell has co-authored a number of IMF policy papers, including two that are currently used to drive modernisation of monetary policy frameworks in low and developing countries: ‘Evolving monetary policy frameworks in low-income and other developing countries’ and ‘Conditionality in evolving monetary policy regimes’. He has published extensively on monetary policy, inclusive growth, short-term output indicators in low-income countries, aid effectiveness, capital flows, and real exchange rate dynamics.
Prior to joining the IMF, Maxwell worked for 13 years at the Bank of Ghana, rising through the ranks to become Head of the Special Studies Division in the Research Department in 2005, and then Special Assistant to the Governor from 2006 to 2009. He also served as a member of the Government of Ghana’s Capital Markets Committee from 2006 to 2008.
Maxwell holds a first degree in Economics and Statistics, and a MPhil in Economics, both from the University of Ghana, and also a Ph.D. in Economics from the University of Nottingham, England.
The presentation will cover the motivation for CBDC in Ghana and the enablers, the rationale for the choice of model, solution partner and implementation approach, as well as lessons learnt.