The Majority Caucus on Parliament’s Economy and Development Committee has urged the public to view the Bank of Ghana’s (BoG) latest financial statement as a deliberate policy intervention aimed at stabilising the economy.
According to the caucus, the results have contributed to a reduction in inflation and the stabilisation of the cedi.
Speaking at a press conference in Parliament, the Committee Chairman and Member of Parliament for Amenfi West, Mr Eric Afful, expressed optimism that any future losses recorded by the BoG would be moderate compared to those captured in its 2025 financial statement.
Mr Afful also noted that the caucus expects a decline in the central bank’s Open Market Operation (OMO) expenses, improved liquidity conditions, reduced exchange rate volatility, and a gradual unwinding of the effects of the Domestic Debt Exchange Programme.
He added that the government’s commitment to recapitalising the central bank under the appropriate legal framework would strengthen its balance sheet over the medium term.
Mr Afful disclosed that the BoG’s cumulative losses of GH¢80.5 billion between 2022 and 2024 contributed to the severe economic crisis experienced during that period.
He attributed the situation to high inflation and negative equity recorded under the previous administration, which further weakened the economy.
However, he stated that the economic transformation witnessed over the past year and a half was a direct result of policy measures implemented by the central bank.
Moreover, Mr Afful emphasised that the financial outcomes presented in the BoG’s statement do not impair its operational capacity, as it continues to effectively deliver on its core mandate.
“Negative equity in central banking is an accounting condition and does not imply insolvency. In view of this, the 2025 financial results of the BoG must be understood for what they truly represent but not seen as a failure,” he said.
He commended the central bank for its efforts and pledged the Majority caucus’s commitment to its oversight responsibilities.
Mr Afful added that the Committee would continue to engage the central bank and other stakeholders to ensure sustained economic stability, transparency, and accountability in managing the country’s economy.
BY BENJAMIN ARCTON-TETTEY
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