Former Vice President and New Patriotic Party (NPP) flagbearer, Dr Mahamudu Bawumia, has held discussions with officials of the Bank of Japan on monetary policy, central bank digital currency and payment systems during his visit to Japan.

The meeting formed part of a series of engagements between Dr Bawumia’s delegation and key Japanese institutions to explore policy approaches and opportunities that could support Ghana’s development.

In a statement following the engagements, Dr Bawumia described the meetings as insightful and fruitful, expressing appreciation to the Japanese institutions for their hospitality and contributions.

Discussions focus on digital currency and payment systems

At the Bank of Japan, the delegation discussed monetary policy, central bank digital currency (CBDC) and payment systems.

A central bank digital currency is a digital form of a country’s official currency issued or backed by its central bank. Unlike privately issued cryptocurrencies, it represents a direct monetary liability of the central bank.

The discussions provided an opportunity for the delegation to learn about Japan’s approach to monetary innovation and the development of modern payment systems.

Digital payment infrastructure and financial technology have become important areas of policy discussion as countries explore ways to improve the efficiency, security and accessibility of financial services.

Bawumia’s delegation meets Japan’s Digital Agency

The delegation also met officials of Japan’s Digital Agency, which was described as the equivalent of Ghana’s Ghana.Gov platform.

The engagement focused on digital government and the use of technology in public service delivery.

The discussions are relevant to Ghana’s ongoing interest in digital transformation and improving the delivery of government services through technology.

Vaccine research and flood management also discussed

At Chiba University, the delegation held discussions on vaccine research and manufacturing.

The meeting explored an area of interest for Ghana as the country seeks to strengthen its healthcare capacity and improve access to medical research and production.

The delegation also met officials of Japan’s Ministry of Lands, Infrastructure, Transport and Tourism to discuss flood control and river management.

These discussions covered areas where Japan’s experience in infrastructure development and water management could offer useful lessons for Ghana.

Industrial development and energy security

Other engagements involved the Japan Organization for Metals and Energy Security and the United Nations Industrial Development Organization (UNIDO) Japan.

The discussions focused on industrial policy in Japan and other countries, as well as issues relating to metals and energy security.

The delegation also met the Chairman of the Research Committee on International Affairs and a member of Japan’s House of Councillors, the upper chamber of the country’s National Diet.

The meeting provided an opportunity to discuss international affairs and parliamentary engagement.

Strengthening Ghana-Japan cooperation

The visit forms part of efforts to explore areas where Ghana could learn from Japan’s experience in technology, healthcare, infrastructure and industrial development.

Dr Bawumia said the meetings had been productive and expressed gratitude to the Japanese hosts for sharing their knowledge and insights.

The engagements have brought several policy areas into focus, including digital financial systems, public sector technology, healthcare research, flood management and industrial development.

The discussions may provide useful perspectives for Ghana as it considers approaches to addressing development challenges and strengthening international cooperation.

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