He said the central bank did this by providing the needed financing to keep the economy running at a critical moment.

Sharing his vision with Ghanaians at a public lecture at UPSA, he said “I must salute and give particular recognition to the Bank of Ghana, which has come under unfair criticism for taking the necessary measures which helped pull the economy back from the brink. 

“The central bank provided needed financing to the Government at that critical moment,” he stated.

He said what the BoG did was very responsible, in putting the interest of the good citizens of Ghana first.

He pointed out that the data available shows that the financing provided to
Government by the Bank of Ghana was temporary. 

“The Bank of Ghana has provided zero financing to Government in five out of the last seven years (2017, 2018, 2019, 2021 and 2023).

“The Bank of Ghana financing to government in the COVID-19 year of 2020 and liquidity crisis year of 2022 was because of a domestic and global crisis (underperforming domestic revenue and no access to international capital markets),” he said explained.