President John Dramani Mahama has reaffirmed his administration’s commitment to safeguarding the independence of the Bank of Ghana (BoG), emphasizing that his government will not engage in political interference or instruct the central bank to print money.
Speaking at the swearing-in ceremony of the newly appointed Governor, Dr. Johnson Asiama, and First Deputy Governor, Dr. Zakari Mumuni, Mahama took a firm stance against what he described as financial mismanagement by the previous administration.
Criticism of Past Banking Policies
The President accused the former government of failing to prioritize the welfare of Ghanaians in its financial decisions, particularly regarding the banking sector clean-up. He argued that previous BoG policies were executed without considering their human impact, leading to widespread financial distress and job losses rather than fostering stability and growth.
New Leadership, New Direction
Mahama tasked Dr. Asiama and Dr. Mumuni with ensuring that monetary policies prioritize economic resilience and financial stability. He urged them to adopt a balanced approach that supports economic growth while maintaining transparency and accountability in the financial sector.
In response, Dr. Johnson Asiama pledged to uphold the BoG’s autonomy and announced a five-point strategy aimed at stabilizing the economy and strengthening the Ghanaian cedi.
The ceremony signaled a renewed effort by the government to protect BoG’s independence, ensuring that Ghana’s financial policies serve the best interests of citizens rather than political agendas.
