Minority accuses NDC of hiding BoG's true financial crisis amidst claims of GH¢44bn loss
The Minority caucus in Parliament sharply criticised the Bank of Ghana following the release of its 2025 audited financial statements. The Minority accused the central bank of concealing its true financial position and warned that it is facing "policy insolvency." According to Kojo Oppong Nkrumah, "We have come here not to gloat about the things we forewarned, but to share with the Ghanaian people the numbers that the government wanted to hide and the worrying implications those numbers reveal."
The Minority disputed the widely reported GH¢15.6 billion loss, insisting the actual figure is much higher when all components are considered. They pointed to an additional GH¢19.3 billion recorded under Other Comprehensive Income, pushing total losses to about GH¢34.9 billion, and argued that when adjusted for the gold sale proceeds, the underlying loss could reach GH¢44 billion. The Minority said the latest figures mark a reversal of a recovery trend recorded in previous years, citing official data that showed losses declining from GH¢13.23 billion in 2023 to GH¢9.49 billion in 2024, before rising again to GH¢15.63 billion in 2025. They attributed the situation to policy decisions, including changes to the cash reserve ratio framework, foreign currency reserve requirements, and the gold purchase programme-moves they say have increased sterilisation costs and pushed interest payments to commercial banks above GH¢14 billion.
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Ghana's Minority caucus is raising concerns about the Bank of Ghana's financial health based on recently released statements. They are accusing the central bank of obscuring the true extent of its financial difficulties - but what could this mean for the nation's economy?
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