By Godwill Arthur-Mensah/ Elsie Appiah-Osei, GNA
Accra, May 5, GNA – The Majority side of Parliament’s Committee on Economy and Development has clarified that the Bank of Ghana’s (BoG) 2025 financial loss was the result of deliberate policy interventions aimed at stabilising the economy, rather than a sign of institutional failure.
At a press briefing in Parliament House on Tuesday, Mr Eric Afful, the Chairman of the Committee, said the Bank recorded a net loss of GH¢15.6 billion in 2025, alongside other comprehensive income charges of GH¢19.32 billion, leaving it with negative equity of GH¢96.3 billion.
Mr Afful explained that the figures should be understood against the backdrop of Ghana’s macroeconomic recovery between 2022 and 2024, when the Bank incurred cumulative losses of GH¢80.85 billion during a period of severe economic distress.
He said inflation peaked at 54.13 per cent in December 2022 before easing to 23.84 per cent by the end of 2024, while the cedi depreciated to GH¢17 to the US dollar.
He noted that the 2025 results reflected the accounting impact of three major interventions.
They include Domestic Debt Exchange Programme (DDEP) which reduced interest income on government securities by about GH¢30 billion but was necessary for debt sustainability.
Additionally, the Open Market Operations incurred GH¢16.7 billion in interest costs to absorb excess liquidity and control inflation, while Currency and Reserve Management ensured the cedi’s appreciation, creating valuation losses on foreign assets.
Also, he said, the Gold Accumulation Programme added about GH¢9 billion in accounting charges despite its long-term strategic value.
Mr Afful indicated that Central banks were not profit-maximising institutions but rather stabilising institutions.
“The Bank’s balance sheet reflects the cost of stabilising the economy during a period of severe distress,” Mr Afful stated.
The Majority highlighted a sharp reversal in economic indicators in 2025 and early 2026 as evidence of success.
He said inflation declined to 5.2 per cent at the end of 2025 and 3.2 per cent in March 2026, while the cedi appreciated by 40.7 per cent against the dollar. Gross international reserves rose to US$13 billion, providing 5.7 months of import cover, with projections under the Ghana Associated National Reserve Accumulation Programme to reach 15 months by 2028.
He added that economic growth also strengthened, with GDP expanding by 6.1 per cent in 2025 and non-oil GDP at 7.8 per cent, raising the total size of the economy to about US$113 billion.
Mr Afful, also the National Democratic Congress Member of Parliament for Amenfi West, said the release was intended to promote transparency and ensure that public debate was grounded in economic and policy context rather than commercial banking standards.
GNA
Edited by Linda Asante Agyei
Godwill Arthur-Mensah
[email protected]
Elsie Appiah-Osei
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