No Unnecessary Money Printing-Prez Mahama Assures BoG Governors

President John Dramani Mahama has assured the newly sworn-in Governor of the Bank of Ghana (BoG), Dr. Johnson Asiamah, and the First Deputy Governor, Dr. Zacharia Mumuni, that he will not instruct them to print more money, a practice that contributed to the current economic crisis.

Speaking at the swearing-in ceremony at the Jubilee House on Tuesday, President Mahama emphasized that excessive money printing drives inflation and exacerbates economic challenges. He pledged to avoid such actions, which were characteristic of the previous administration.

The President also criticized the Akufo-Addo/Bawumia government’s handling of the banking sector cleanup, stating that it was done with a narrow focus, disregarding the human consequences.

President Mahama expressed confidence in the newly appointed BoG leaders, citing their wealth of experience and strong leadership qualities. He emphasized that their appointment marks the beginning of resetting Ghana’s economy, with a focus on proper currency regulation and stability.

The President commended Dr. Asiamah and Dr. Mumuni for their proven track record, stating that their expertise is crucial in navigating the current financial crisis and putting the economy back on the path of growth.