The Majority in Parliament has jump to the defence of the GH¢19 billion loss recorded in the Bank of Ghana’s 2025 financials.
The Caucus said the loss is as a result of the cost incurred by the Central Bank to make Ghana’s economy resilient.
Addressing journalists at a press conference in Parliament on Thursday, April 30, 2026,, a member of Parliament’s Finance Committee and MP for Sagnarigu, Atta Issah said the central bank spent the GH¢16.7 billion in 2025 through open market operations, primarily to absorb excess liquidity in the system.
He noted that government interventions in the last year have reduced inflation, reduced lending rate and increased international reserves of the country.
Mr Issah argued that these gains underscore the benefits of the Bank of Ghana’s policy measures, despite their significant cost.
“What made the lower inflation possible. The cost of GHC16.7 billion was incurred in 2025 through the Bank of Ghana open market operation interest pay to absorb excess liquidity in the market.
“These are the cost or the benefits as a result of the cost done by the Bank of Ghana. Consider where we would have been today had this work not been done. If you wanted to reduce the equity position of Government, consider the effect we would have been suffering as a result of that decision,” he stated.
He added: “The bigger you spend, the bigger your results. In 2025, with a larger spend, inflation fell by eighteen percentage points. The cost was real, and the result was real as well.”
He noted that inflation has dropped significantly from a peak of 54.1% in 2022 to 3.2% as of March 2026, reflecting the impact of sustained monetary tightening and policy discipline.
Mr Issah further indicated that the monetary policy rate, which influences the Ghana Reference Rate and interbank lending, has declined from about 30% to around 14%, easing the cost of doing business.
On the external front, he disclosed that Ghana’s international reserves have grown from $9.1 billion at the end of 2024 to $13.8 billion by the close of 2025, and further increased to $14.5 billion as of February 2026 which he said is the highest level recorded in the country’s history.
He cautioned that without such interventions, Ghana could have faced persistent high inflation, potentially around 23.8%, alongside a weakening cedi, declining reserves, and lending rates remaining above 30%.
He concluded that the central bank’s actions have created a buffer for the economy, positioning the country to better navigate ongoing global uncertainties.
“With all these pressures, Ghana is still resilient and not affected by that. The Bank builds a room we can now have to navigate this moment,” he stressed.
