Mahama to BoG: No Reckless Money Printing Under My Watch
President assures Bank of Ghana leadership that reckless monetary policies will not be an option.
- Mahama vows not to pressure the BoG to print money for government spending
- Warns against inflation, income erosion, and economic instability from reckless policies
- Urges sustainable financial management to restore investor and public confidence
President John Dramani Mahama has pledged to uphold fiscal discipline, assuring the newly appointed Governor and Deputy Governor of the Bank of Ghana (BoG) that his administration will not resort to excessive money printing to fund government expenses.
Speaking at the swearing-in ceremony of Dr. Johnson Asiama and Dr. Zakaria Mumuni at the Jubilee House, Mahama emphasized the risks of unregulated central bank financing, warning that such practices have previously led to dire economic consequences in Ghana.
“When governments engage in unchecked money printing to finance expenditures, the result is soaring inflation, weakened incomes, and increased poverty. Such actions erode public confidence in financial institutions and threaten long-term economic stability,” he cautioned.
Reaffirming his stance, Mahama stated firmly, “One thing for sure, I’m not going to come and ask you to print more money.”
