The Government of Ghana has issued a GH¢5 billion recapitalisation bond to the Bank of Ghana (BoG) as part of efforts to restore the central bank's financial strength following its negative net equity position.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, 2026, the Minister of Finance said the intervention forms part of the government's commitment under a Memorandum of Understanding (MoU) signed with the Bank of Ghana on January 6, 2025.
According to the minister, the recapitalisation bond was issued in March 2026 to strengthen the Bank of Ghana's equity base and support the restoration of its financial position.
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"Consistent with the commitment in the Memorandum of Understanding and as a result of government's resolve to restore the bank's financial position, government issued a GH¢5 billion recapitalisation bond to the Bank of Ghana in March 2026 to strengthen the bank's equity base," the minister told Parliament.
He further disclosed that the government would continue to make annual budgetary provisions to recapitalise the central bank until its equity is fully restored.
"Going forward, the Government of Ghana will make annual provision to capitalise the Bank of Ghana until the bank's equity is fully restored in accordance with the Bank of Ghana (Amendment) Act, 2025 (Act 1158)," he stated.
The minister added that while the government is providing financial support, the Bank of Ghana will implement measures aimed at improving its operational efficiency and long-term sustainability.
"While the government is helping to restore the Bank of Ghana's capital, the bank itself will undertake a comprehensive operational efficiency review to reduce costs, strengthen financial management and rebuild its long-term financial sustainability," he said.
Touching on the Ghana Accelerated Reserve Accumulation Policy, the Finance Minister announced that the cost of the programme had been significantly reduced from an average of 14.5 percent of gold purchases to 5 percent.
He stated that the government has allocated GH¢5 billion in the 2026 Budget to support the programme within the existing appropriations.
"This investment is building an economic war chest to strengthen Ghana's international reserves, protect the cedi, reinforce economic stability, improve investor confidence and shield the economy from international shocks," the finance minister said.
The announcements formed part of the government's broader measures outlined in the 2026 Mid-Year Budget Review aimed at strengthening macroeconomic stability, restoring confidence in key state institutions and enhancing Ghana's resilience against external economic shocks.
ANAS/SA
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