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BoG explanations on losses lack credibility and clarity – Bawumia’s spokesperson
May 11, 2026
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BoG explanations on losses lack credibility and clarity – Bawumia’s spokesperson

Money
Policy
Growth

Key Points

  • A spokesperson for Dr Mahamudu Bawumia (NPP 2028 flagbearer) accused the Bank of Ghana (BoG) of lacking transparency regarding its financial reporting and recent losses.
  • Dr Ekua Amoakoh questioned the handling of BoG financial statements, citing inconsistencies and the temporary removal of a report from their website.
  • She criticized explanations linking BoG losses to inflation control and suggested a connection to recent changes in the bank's gold purchase programme.
  • Amoakoh also highlighted broader unresolved economic challenges in Ghana, including unfinished Agenda 111 projects, delayed payments to public sector workers, and issues in the cocoa sector.
  • The NDC defended the BoG, with Julius Kattah stating that the reported losses are a necessary cost of stabilizing the economy, managing inflation, and debt restructuring.

Why This Matters

This article highlights a significant political and economic debate in Ghana concerning the transparency and management of the Bank of Ghana's finances. Allegations of mismanagement and lack of clarity, if not adequately addressed, could erode public trust in key economic institutions and impact investor confidence. The discussion also sheds light on broader economic challenges and the government's efforts to stabilize the economy, which are critical for Ghana's future stability and development.

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