Politically motivated policy choices drove BoG’s 2025 losses - Dr Gideon Boako

The Member of Parliament for Tano North and a member of the Finance Committee, Gideon Boako, has attributed the Central Bank’s GH¢15.6 billion operational loss in 2025 to policy decisions he believes were politically driven.

The figure, captured in the Bank’s 2025 financial statement released on May 1, represents the second-highest loss recorded by the institution since the re-denomination of the cedi in 2008.

Boako, who has consistently analysed the Bank’s financial position in recent months, said the development did not come as a surprise, as he had earlier projected a significant loss.

According to a report from peacefm online.com on May 1, 2026, he expressed concern that the setback comes at a time when the Bank appeared to be recovering from earlier economic shocks.

TUC calls for regular dialogue on economic challenges, unemployment

“2025 was not a crisis year. The Bank’s 2024 financial statements showed a system slowly healing. Operating losses had narrowed from GH¢13.23 billion to GH¢9.49 billion. Other Comprehensive Income had turned positive. FX valuation losses were moderating. The balance sheet was stabilising. Then 2025 arrived, and the new management at the Bank of Ghana reversed the progress they inherited,” he wrote on his Facebook page.

He further questioned the circumstances that led to the sharp deterioration in the Bank’s financial position, insisting that the scale of the loss raises critical concerns.

“The question is not whether losses can occur in central banking. They can. The question is: why a central bank that had begun to recover suddenly plunged into the largest non-crisis loss in its history?” he added.

Boako further maintained that the outcome was largely the result of what he described as politically motivated policy choices, rather than measures aimed purely at maintaining economic stability.

SO/SEA

Back to the fireside (By the fireside)