Omanghana
Michael Ayamga-Adongo, Deputy Chief Executive Officer of the Environmental Protection Authority, has stated that the financial losses reported by the Bank of Ghana for 2025 are now having a more direct impact on ordinary citizens than in previous years.
According to him, while similar losses were recorded in 2023 and 2024, their effects were less visible to the public. He explained that the 2025 losses are being felt more strongly due to the high cost of economic stabilization measures, which are now translating into real pressures on households and businesses.
Despite these concerns, Dr. Ayamga-Adongo defended the central bank’s role, noting that institutions like the Bank of Ghana are mandated to ensure price and economic stability rather than generate profits. He emphasized that financial losses can sometimes be an unavoidable consequence of policies aimed at controlling inflation and stabilizing the economy.
The Bank of Ghana’s 2025 Annual Report, released on May 1, 2026, highlights the scale of the challenge. The central bank recorded an operational loss of GH¢15.63 billion for the year ending December 31, 2025, representing a 65 percent increase from the GH¢9.49 billion loss reported in 2024. Critics, including Gideon Boako, argue that the actual gross loss could be significantly higher—estimated at GH¢44.52 billion—before being partially offset by the sale of about 18.5 tonnes of gold reserves.
A key driver of the losses was the cost of Open Market Operations, which doubled to GH¢16.73 billion as the central bank worked to reduce excess liquidity and bring inflation under control.
The report has sparked a sharp divide among policymakers and analysts. Government supporters and the Majority in Parliament describe the losses as a necessary cost of achieving macroeconomic stability, pointing to falling inflation and a more stable Ghanaian cedi as positive outcomes. However, opposition voices argue that the scale of the losses reflects policy shortcomings, especially given that 2025 was not marked by a major global economic crisis like that of 2022.
Source: Omanghana
