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The Bank of Ghana’s (BoG) GH¢15.6 billion operating loss for the 2025 financial year has sparked criticism from Dr. Gideon Boako, Member of Parliament for Tano North and a member of Parliament’s Finance Committee, who described the outcome as a “new low” in the central bank’s recent history.
The figure, disclosed in the BoG’s 2025 financial statements published on May 1, represents the second-highest loss recorded by the central bank since the redenomination of the cedi in 2008. It also exceeds the GH¢9.48 billion loss reported in 2024, a period many analysts viewed as a phase of gradual recovery following the global economic disruptions of 2022.
Dr. Boako questioned the deterioration in performance, particularly as 2025 was not widely considered a crisis year. He noted that key indicators in 2024—including narrowing operating losses, improved comprehensive income, moderating foreign exchange valuation losses, and a stabilising balance sheet—had pointed to a recovery trajectory.
According to him, the reversal of these gains raises concerns about the bank’s policy direction and financial management.
“The issue is not whether central banks can record losses—they can,” he stated. “The concern is why a central bank that was showing signs of recovery would record such a significant loss in a relatively stable year.”
The lawmaker also suggested that policy decisions may have contributed to the outcome, arguing that certain measures could have had unintended financial consequences for the central bank.
The development has triggered broader debate among analysts and policymakers, with renewed focus on the balance between monetary policy actions and their financial impact on central bank operations.
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