President John Dramani Mahama has reaffirmed his commitment to fiscal discipline, assuring the newly sworn-in Governor and Deputy Governor of the Bank of Ghana (BoG) that his administration will not engage in reckless money printing to finance government expenditure.
Speaking at the swearing-in ceremony of Dr. Johnson Asiama and Dr. Zakaria Mumuni at the Jubilee House, Mahama cautioned against excessive and unregulated Central Bank financing, warning that it has had devastating consequences on Ghana’s economy in recent years.
“When government resorts to unsustainable consumption and excessive money printing, the consequences can be severe—from spiraling inflation and erosion of incomes to driving millions into poverty. Such actions not only weaken public confidence in financial institutions but also threaten long-term stability,” he warned.
Mahama was firm in his stance, stating, “One thing for sure, I’m not going to come and ask you to print more money.”
His remarks come amid ongoing concerns about Ghana’s economic management, particularly the Bank of Ghana’s past role in financing budget deficits.
Excessive money printing has previously been linked to rising inflation, currency depreciation, and declining purchasing power, fueling calls for stronger monetary discipline.
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