President John Dramani Mahama has reaffirmed his commitment to fiscal discipline, assuring the Bank of Ghana (BoG) that his administration won’t resort to reckless money printing to finance government expenditure.
This promise comes amid concerns about Ghana’s economic management and the BoG’s history of financing budget deficits.
Mahama warned against the dangers of excessive Central Bank financing, citing devastating consequences such as spiralling inflation, erosion of incomes, and driving millions into poverty.
He emphasized that such actions weaken public confidence in financial institutions and threaten long-term stability.
The President’s remarks aim to alleviate concerns about Ghana’s economic management, particularly regarding the BoG’s financing of budget deficits. Excessive money printing has been linked to rising inflation, currency depreciation, and declining purchasing power for citizens in previous years.
