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April 30, 2026
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2025 BoG GH¢15.7bn loss was a peak, future results expected to improve – Atta Issah
Money
Policy
Growth
Key Points
- The Majority in Parliament anticipates the Bank of Ghana's (BoG) projected GH¢15.7 billion loss for 2025 will be its highest.
- This expectation is based on easing inflation, which fell to 3.2% in March 2026, and a reduced policy rate of 14% by March 2026, lowering liquidity management costs.
- Legislative reforms, including the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) passed in February 2026, are expected to shift gold transaction costs from BoG to the Ministry of Finance.
- These changes are intended to prevent a recurrence of the GH¢9 billion gold-related costs and GH¢19.32 billion revaluation losses recorded in 2025.
- The Majority expresses confidence in a strengthened financial framework and expects a more positive financial outlook for the central bank in future years.
Why This Matters
This analysis is crucial for Ghana as the financial health and operational efficiency of the Bank of Ghana directly impact the nation's economic stability and investor confidence. Reduced central bank losses signal improved macroeconomic management, potentially leading to lower borrowing costs, a more stable cedi, and an environment conducive to sustainable economic growth. It also reflects the government's commitment to fiscal discipline and strengthening key financial institutions.
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