Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has signalled a turnaround in the Bank’s financial outlook, stating that the BoG does not expect to declare a loss this year.
Speaking during the IMF/World Bank Spring Meetings in Washington, DC, Dr. Asiama revealed that the Bank is undertaking a comprehensive update of its legal framework to better align with modern economic demands.
He noted that this initiative is being supported by the Bretton Woods institutions.
Dr Asiama also highlighted the strong technical and policy backing Ghana continues to receive from international partners, including the International Monetary Fund (IMF).
In 2022, the Bank of Ghana posted a record loss of over GH¢60 billion, primarily driven by the domestic debt restructuring program under the IMF-supported economic recovery plan.
The losses raised concerns over the Bank’s financial independence and long-term stability.
Dr Asiama’s remarks were made during an engagement between Ghana’s delegation — led by Finance Minister Dr. Cassiel Ato Forson and members of the Ghana Heritage Club, a network of Ghanaian professionals working within the IMF and World Bank.
MA
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