‘I’ll not ask you to print more money’ – Mahama assures BoG

President John Dramani Mahama, during the swearing-in of the new Bank of Ghana Governor, Dr. Johnson Asiama, and Deputy Governor, Dr. Zakaria Mumuni, reaffirmed his commitment to fiscal discipline and warned against reckless money printing to finance government spending.

He cautioned that unsustainable Central Bank financing could lead to severe consequences spiraling inflation, erosion of incomes, and increased poverty thereby undermining public confidence and long-term stability.

His remarks come amid concerns over past instances of excessive money printing that contributed to rising inflation, currency depreciation, and diminished purchasing power.

Economist Prof. Godfred Bokpin echoed these concerns, attributing Ghana’s high inflation to excess liquidity rather than real economic productivity, emphasizing the need to address structural issues.