Former Deputy Finance Minister and Chairperson of Parliament’s Public Accounts Committee, Abena Osei-Asare, has raised alarm over the deteriorating financial position of the Bank of Ghana (BoG), warning that its mounting losses and deepening negative equity could ultimately shift the burden onto taxpayers.
In a statement posted on Facebook on Sunday, May 3, 2026, reacting to the Bank’s 2025 audited financial statements, the Atiwa East MP highlighted a sharp decline in the central bank’s balance sheet. According to her, BoG’s negative equity worsened significantly from GH¢58.62 billion in 2024 to GH¢93.82 billion in 2025, while its annual loss increased from GH¢9.49 billion to GH¢15.63 billion.
Although the central bank continues to operate, she cautioned against treating the situation as merely an accounting issue. She noted that the government has already committed to restoring the Bank’s capital, making the matter a broader public finance concern.
Citing disclosures in the Bank’s financial statements, Abena Osei-Asare pointed out that the government is expected to implement a phased recapitalisation programme between 2026 and 2032.
“The BoG’s own 2025 accounts acknowledge Government’s obligation to restore the capital base through a phased recapitalisation programme,” she stated.
She warned that the implications of this commitment could extend beyond the central bank, potentially affecting the country’s fiscal stability.
“That means today’s(BoG’s) losses become tomorrow’s taxpayer cost, debt instrument, or fiscal trade-off,” she added.
Describing the GH¢93.82 billion negative equity as a “fiscal warning light,” Osei-Asare stressed that the issue should concern not only policymakers but also ordinary citizens who may ultimately bear the cost.
“A functioning central bank with such a large negative equity position remains a public finance problem, regardless of its operational continuity,” she said.
She further called for full transparency regarding the government’s recapitalisation plan, urging authorities to publish details of any memorandum of understanding, bond issuances, cash injections, or potential write-offs tied to restoring the Bank’s capital.
In addition, she urged key parliamentary committees — including Finance, Economy, and Public Accounts — to summon the BoG Governor, the Finance Minister, external auditors, and relevant officials for urgent briefings.
According to her, any effort to recapitalise the central bank using public resources must be subjected to strict parliamentary scrutiny and transparent fiscal reporting.
“The public is entitled to know who is responsible, on what terms, and at what cost to the taxpayer,” she emphasised.
By: Janice Opoku-Agyemang
, warning that its mounting losses could shift the burden onto taxpayers.){kind=link}