Bank of Ghana Denies Money Printing Allegations
The Bank of Ghana (BoG) has categorically denied allegations of printing money recklessly in 2025, according to #CitiNewsroom. Bernard Otabil, Director of Communications at the central bank, clarified that money printing is a planned process linked to economic activity, aimed at managing cash circulation and maintaining price stability.
Otabil explained that the BoG only controls the cedi, not foreign currencies, and regulates foreign currency inflows through documentation and anti-money laundering measures. He emphasized the importance of distinguishing between monetary policy, managed by the central bank, and fiscal policy, handled by the finance ministry.
The denial comes amidst controversy over the central bank’s financial statements, which showed a significant loss in 2025. Otabil attributed the loss to various factors, including the cost of currency issuance, which dropped by over 54% to GH¢471.4 million in 2025 ¹ ².
The BoG’s clarification aims to address concerns about the country’s economic management and the central bank’s independence. The institution has been under scrutiny following allegations of excessive money printing to support government spending.
Call or WhatsApp +233 20 2190 250 and share your story.
Source: Stella Sunu
