The Minister of Finance, Dr Cassiel Ato Forson, has said that the Bank of Ghana needs some GH¢53 billion bailout to mitigate its negative equity challenge, following a GH¢60 billion loss recorded in 2023.
According to him, the loss stemmed from the government’s Domestic Debt Exchange Programme (DDEP), which involved the restructuring and extension of maturity dates for bonds worth billions of Ghana cedis.
Delivering the 2025 Budget on the floor of Parliament on Tuesday, March 11, 2025, Ato Forson said that the GH¢53 billion injection is expected to help the Bank of Ghana strengthen its balance sheet and restore confidence in the country’s financial system.
“Mr. Speaker, as part of measures to address these mounting accumulated arrears/payables, we have commissioned an audit of these arrears/payables and guarantee value for money before payment. In addition to the GH¢67.5 billion in arrears/payables, the validation process also revealed that MDAs have committed government through contract awards in excess of GH¢194 billion, about 16.5% of GDP as at end-2024, with the road sector alone accounting for over GH¢100 billion,” he said.
SP/AE
Trending GH: Watch some Ghanaians share their expectations ahead of 2025 budget presentation
