Economist Isaac Yalley has offered a stinging critique of the parliamentary friction between Ghana’s Majority and Minority caucuses regarding the Bank of Ghana’s (BoG) 2025 financial results.
He dismissed the heated exchange as a politically motivated scramble for credit rather than a substantive debate grounded in economic reality.
In his view, the crossfire stems purely from a desire to claim ownership of any positive narrative, regardless of the underlying facts.
Speaking on Rainbow Radio’s
Nyankonton Mu Nsem: Yalley identified a glaring inconsistency in the current discourse.
He noted that while the central bank’s results have sparked intense scrutiny, significant losses reported by other key state institutions, such as the Electricity Company of Ghana (ECG), have escaped similar public or political condemnation.
He questioned the selective outrage of lawmakers, highlighting the hypocrisy of targeting the BoG while overlooking systemic losses elsewhere in the public sector.
His remarks follow duelling press conferences where both sides of the House aggressively spun the BoG’s 2025 financial statements to sway public opinion.
Mr Yalley asserted that the central bank’s primary mandate is the pursuit of price stability, specifically the control of inflation to preserve the currency’s value.
While this remains the priority, the institution simultaneously supports broad government objectives and promotes sustainable growth through a balanced monetary environment.
Mr Yalley further explained that the bank is responsible for the overall stability of the financial system, regulating credit and ensuring the efficiency of banking institutions.
These objectives are achieved through its roles as the sole issuer of currency, the chief advisor and banker to the government, and the primary regulator of the financial sector.
Addressing the reported deficit, he argued that the BoG will inevitably incur costs when intervening in the market.
The critical metric, he suggested, is not the immediate loss but the broader impact on the economy. He noted that interest rates, inflation, and treasury rates have all trended downwards despite these financial losses.
He stressed that every stabilising measure carries an inherent cost but argued that without the BoG’s interventions, the nation would have faced a far more severe economic crisis than what has been experienced.
By: Rainbowradioonline.com/Ghana
