The Director of Communications at the Bank of Ghana, Dr Bernard Otabil, has stated that the central bank did not carry out any money-printing activity in 2025.
In an interview, he stressed the need of understanding money creation issues in relation to monetary policy and liquidity management.
”What it is not is that there was no money printing in 2025,” he said. I can speak to that at this moment because it was the first thing we needed to establish.
He clarified that rather than being the result of direct money printing, allusions to excess liquidity in the financial sector are based on evaluations of the money supply inside the economy.
A fundamental economic premise, according to Dr Otabil, is that inflationary pressure usually arises when too much money chases too few products.
He went on to say that improper management of excess liquidity can cause it to flow via various economic channels, which could have an impact on exchange rates and price stability.
