The Majority Caucus in Parliament has stated that the GH¢19 billion loss recorded by the Bank of Ghana (BoG) in its 2025 financial statement resulted from deliberate policy actions that helped stabilise the cedi.
According to the caucus, the figures do not indicate wastage or mismanagement but rather reflect sound economic decisions that have produced tangible results.
Addressing a press conference in Parliament on Thursday, the Member of
Parliament for Sagnarigu, Mr Atta Issah, said the current economic outcomes experienced by Ghanaians stem from critical policy decisions taken by the government.
He explained that the central bank had to absorb higher financial costs to achieve lower inflation, a stronger currency, and improved economic stability.
“The Bank of Ghana built a room we can now have to navigate these moments.
These outcomes did not just happen by accident. They are as a result of deliberate policy actions, and those actions have financial implications for the Bank itself,” Mr Issah said.
“The cost you see in the financial statement are the cost of producing outcomes that you are living through currently. The institution carries them on its books,” he added.
Mr Issah noted that efforts to aggressively reduce inflation were a major driver of the costs reflected in the BoG’s financial statement.
“To bring inflation down, the bank had to absorb excess money from the banking industry by issuing short-term bills and paying interest on them. The cost rose from about GH¢8.6 billion in 2024 to GH¢16.7 billion in 2025,” he stated.
“The bigger you spend, the bigger your results. In 2025, with a larger spend, inflation fell by eighteen percentage points. The cost was real, and the result was real as well,” he added.
He further identified the BoG’s gold purchase programme as another key contributor to the reported loss.
“The accounting cost of the gold purchase programme stood at GH¢9 billion in
2025. The programme accumulated approximately 111 tonnes of gold. The gold itself has not been lost. The reserves are real,” he said.
Mr Issah cautioned against misinterpreting the GH¢19 billion loss, emphasising that it largely reflects accounting adjustments rather than actual financial losses.
“A weaker cedi would have produced an accounting gain and a higher inflation for the ordinary Ghanaian. The right thing happened,” he argued.
BY BENJAMIN ARCTON-TETTEY
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