BoG's 2025 spending was necessary in saving a near collapse economy — Majority

The Majority Caucus in Parliament has defended the Bank of Ghana (BoG) over its reported losses in 2025, describing the expenditure as necessary to stabilise the economy.

According to the central bank’s 2025 annual report, it recorded a net loss of GHS15.6 billion, up from GHS9.4 billion in 2024.

Addressing a press conference in Parliament on Thursday, April 30, a member of the Finance Committee, Atta Issah, said the interventions by the central bank were deliberate and critical to restoring economic stability.

“The cost of 16.7 billion was incurred in 2025 through the Bank of Ghana open market operations… This led to inflation falling from 54.1% in 2022 to 3.2% in March this year,” he said.

"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 added.

He explained that the measures helped reduce key economic indicators, including the monetary policy rate and lending rates, while improving credit growth to the private sector.

The NDC lawmaker further argued that the interventions strengthened the cedi and boosted investor and consumer confidence, positioning Ghana as resilient despite global economic pressures.

“Consider where we would have been today had this work not been done… inflation would have still been high, the cedi would have been weakening, reserves running lower, and lending rates above 30%,” he stated.

The Sagnarigu MP added that government expects improved fiscal discipline in 2026, with measures in place to avoid similar losses as well as sustaining gains in inflation control, exchange rate stability and economic growth.