The International Monetary Fund has appointed Leonard Chumo as a Resident Adviser in the Financial Sector Supervision to the Bank of Ghana.
Chumo is to provide technical assistance and help build the capacity of the banking supervision function.
“At the request of Bank of Ghana and fully funded by Switzerland’s State Secretariat for Economic Affairs, the IMF has assigned a Resident Adviser in Financial Sector Supervision to the Bank of Ghana,” a statement published on the BoG website on Tuesday read.
According to the BoG, Chumo brings first-hand knowledge of supervisory work from leading central banks as well as previous technical assistance experience in the West African region.
Starting his assignment at the BoG on February 6, 2023, Chumo is expected to serve there for three years.
He will also support the implementation of Pillar 2 and 3 of the Basel II/III capital frameworks, as well as strengthen the Risk-Based Supervisory framework at the Bank.
The Bank of Ghana expressed its utmost appreciation to SECO for the continued funding of Long-Term Technical Experts from the IMF to the Bank.
“The Adviser’s placement is a continuation of cooperation in this area between the Bank of Ghana, the IMF and SECO, that started as early as in 2015 and had already seen the assignment of a previous Adviser until 2018,” the statement added.