Dr Maxwell Opoku-Afari
Dr Maxwell Opoku-Afari is an Economist with many years of experience and is currently the First Deputy Governor of the Bank of Ghana. He holds a Bachelor of Arts Degree in Economics and Statistics from the University of Ghana, 1993; MPhil in Economics from the University of Ghana, 1996 and a PhD in Economics from the University of Nottingham, UK, 2004.
From 2009 to 2017, he held positions at the International Monetary Fund (IMF) as Deputy Division Chief and Mission Chief. His work at the IMF focused on policy design, in particular, on monetary policy modernization and macro-financial linkages. Dr. Opoku-Afari has co-authored a number of IMF Policy Papers including one on “Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries” and another on “Conditionality in Evolving Monetary Policy Regimes”. These two policy papers are currently being used to drive the modernization of monetary policy frameworks in several low-income and developing countries. He also has extensive publications on monetary policy, inclusive growth, short-term output indicators in low-income countries, aid effectiveness, and on capital flows and real exchange rate dynamics.
Prior to joining the IMF in 2009, he worked for 13 years at the Bank of Ghana, rising through the ranks to become the Head of the Special Studies Division in the Research Department and later elevated to the position of the Special Assistant to the Governor of Bank of Ghana from 2006 to 2009.
He has contributed significantly to the fortunes of the Central Bank through his excellent work in various roles including Monetary Policy Framework, Research Development, Financial Sector Clean-up, Payments Systems, FinTech and Innovation, Petroleum Fund Management, Information Technology and Information Security, Crisis Management and Business Continuity.
He served as a member on many governmental agencies and committees that deal with financial policy and management, including the Board of Directors of the Bank of Ghana, Alternate Governor at the IMF for the Government of Ghana, Chair of Governing Council and Board member of the Ghana Fixed Income Market, Ghana Investment Promotion Council and the Ghana Revenue Authority.
He was awarded Honorary Fellowship by the Chartered Institute of Bankers, Ghana in recognition of his contribution to the development of the banking sector in Ghana in November 2020. He was also awarded Honorary Fellowship by the Institute of Directors, Ghana in recognition of his leadership in promoting good governance in the corporate sector. You were an Adjunct Professor at Regent University College of Science and Technology from 2005 – 2008 and a Corporate Executive in Residence at the University of Ghana Business School in 2021.
Dr. Maxwell Opoku-Afari, on account of his noteworthy contribution to policy-relevant research and modernization of monetary policy frameworks in low-income and developing countries, he was elected Fellow of the Ghana Academy of Arts and Sciences on 20 October 2022.
