Majority caucus says BoG's rising losses are cost of stabilisation, not collapse
The Majority in Parliament strongly pushed back against the Minority's claims that the Bank of Ghana reversed a recovery path in 2025. The Majority said that the interpretation "mischaracterises both the trend and the drivers of the Bank of Ghana's financial performance." The Majority argued that the Minority's reading of the losses was fundamentally flawed because it treated central bank losses as commercial losses.
The dispute follows the release of the central bank's audited financial statements. The Minority argued that losses narrowed from GH¢13.23 billion in 2023 to GH¢9.49 billion in 2024, then rose sharply to GH¢15.63 billion in 2025. The Minority also pointed to a worsening of negative equity by about GH¢35 billion. The Majority accepted that negative equity had widened to about GH¢93.8 billion, but insisted that "this is not a sign of insolvency." According to the Majority, the 2025 increase in losses included "higher interest costs from open market operations used to reduce inflation," "exchange rate and foreign currency revaluation effects," and "ongoing legacy costs from the 2022 to 2023 crisis, including the Domestic Debt Exchange Programme." Atta Issah, the Sagnarigu MP and a member of Parliament's Finance Committee, authored the Majority's detailed response.
Quick Summary
Ghana's Majority caucus in Parliament is in disagreement with the Minority over the Bank of Ghana's financial performance. The Majority claims that rising losses are tied to stabilisation efforts - but what does that mean for the central bank?
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