The majority in Parliament has stepped forward to defend the financial standing of the Bank of Ghana (BoG) amidst growing scrutiny over its 2025 operational performance.
Addressing the caucus’s position, the majority clarified that the central bank’s fundamental purpose is not to generate profit.
Speaking for the majority, Amenfi West MP Eric Afful argued that the public should not evaluate the central bank’s financial results through the same lens as those of commercial entities.
This defence follows the release of the BoG’s audited financial reports, which revealed an operational loss of approximately GH¢15.63 billion for the 2025 financial year.
The clarification serves as a direct rebuttal to the minority, who recently alleged during a press conference that the bank’s actual losses exceeded GH¢40 billion.
The majority has firmly dismissed these claims as inaccurate.
“It is therefore important to emphasise that these financial outcomes do not impair the operational capacity of the Bank of Ghana,” Afful stated. “The bank continues to effectively deliver on its core mandate.”
The MP further explained that the BoG prioritises macroeconomic stability over fiscal gains. He maintained that negative equity in this context is merely “an accounting condition and does not imply insolvency”.
Central banks are not profit-making institutions,” he said.
Afful concluded by reinforcing the distinction between central and commercial banking, noting that the bank’s primary responsibility remains economic stabilisation.
“Simply put, the bank’s balance sheet reflects the cost of stabilising the economy during a period of severe economic distress,” he added.
By: Rainbowradioonline.com/Ghana