The Director of Communications at the Bank of Ghana, Bernard Otabil, has clarified that the central bank did not engage in any money printing in 2025.
Speaking in an interview on Face to Face on Tuesday, May 5, he emphasised that concerns about money creation must be properly understood within the context of monetary policy and liquidity management.
According to him, “What it is not is that in 2025 there was no printing of money… That is the first thing we needed to establish, and that is what I can speak to at this point in time.”
He explained that references to excess liquidity in the financial system are based on assessments of money supply within the economy, rather than direct money printing.
Mr Otabil noted that a key economic principle is that when too much money chases too few goods, it typically results in inflationary pressure.
He added that if excess liquidity is not properly managed, it can circulate through different channels in the economy, potentially affecting price stability and the exchange rate.