Pesident John Dramani Mahama has reaffirmed his commitment to fiscal discipline, assuring the newly sworn-in leadership of the Bank of Ghana (BoG) that his administration will not resort to reckless money printing to finance public expenditure.
Speaking at the swearing-in ceremony of Dr. Johnson Asiama as Governor and Dr. Zakaria Mumuni as Deputy Governor at the Jubilee House, Mahama emphasized the devastating effects of unregulated central bank financing on Ghana’s economy.
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“When government resorts to unsustainable consumption and expenditure financed by excessive and unregulated printing of money, the consequences can be severe,” he warned.
“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.”
In a firm assurance to the new BoG leaders, Mahama made his stance clear: “One thing for sure, I’m not going to come and ask you to print more money.”
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