Bank of Ghana\u2019s<\/a> 2025 report, describing its financial outcome as the cost of restoring macroeconomic stability and rebuilding confidence in the economy.<\/p>\nAddressing the Parliamentary Press Corps on Thursday, April 30, a member of the Parliamentary Select Committee on Finance, Mr Attah-Issah, said the central bank\u2019s policy actions had delivered significant gains despite concerns over its financial statements.<\/p>\n
According to him, the Ghana cedi appreciated by 41 percent in 2025, making it one of the strongest-performing currencies among emerging markets.<\/p>\n
He also noted that Ghana\u2019s gross international reserves rose from 9.1 billion dollars at the end of 2024 to 13.8 billion dollars by the close of 2025, and further increased to 14.5 billion dollars by February 2026.<\/p>\n
\u201cThis is the highest reserve Ghana has ever recorded,\u201d he said.<\/p>\n
The Majority also pointed to improvements in borrowing costs. Mr Attah-Issah said the policy rate declined from 27 percent at the end of 2024 to 14 percent by March 2026, while average lending rates dropped from 30.2 percent to 17.7 percent.<\/p>\n
\u201cThat means cheaper loans for small business owners trying to expand, farmers buying inputs, traders stocking their shops, and young couples buying their first homes,\u201d he added.<\/p>\n
He further indicated that Ghana\u2019s public debt ratio had reduced from 62.5 percent of GDP to 45 percent as part of broader stabilisation efforts led by the Bank of Ghana and the Ministry of Finance.<\/p>\n
The economy, he said, recorded 6 percent growth in 2025, exceeding the projected 4 percent.<\/p>\n
\u201cBusiness and consumer confidence are at record highs,\u201d he stated.<\/p>\n
Responding to concerns over losses captured in the central bank\u2019s accounts, the Majority argued that these reflected deliberate policy measures to tame inflation and build reserves.<\/p>\n
Mr Attah-Issah explained that to reduce inflation, the Bank of Ghana had to mop up excess liquidity by issuing short-term bills and paying interest.<\/p>\n
He said the cost of these operations rose from GH\u00a28.6 billion in 2024 to GH\u00a216.7 billion in 2025, but helped drive inflation downward.<\/p>\n
\u201cThe cost was real, and the result was real as well,\u201d he noted.<\/p>\n
He also defended the central bank\u2019s gold purchase programme, saying it had significantly strengthened Ghana\u2019s reserves.<\/p>\n
According to him, Ghana accumulated approximately 111 tonnes of gold in 2025, compared to less than one tonne in 2021.<\/p>\n
\u201cThe gold itself has not been lost. The results are real,\u201d he said.<\/p>\n
The Majority maintained that the Bank of Ghana\u2019s negative equity position did not originate in 2025 but dates back to 2022, largely due to the Domestic Debt Exchange Programme (DDEP).<\/p>\n
Mr Attah-Issah explained that the debt restructuring imposed significant impairments on the central bank\u2019s holdings of government securities.<\/p>\n
\u201cThe negative equity position is a balance sheet record of that contribution,\u201d he said.<\/p>\n
He stressed that the Bank of Ghana remains fully capable of carrying out its core functions, including monetary policy implementation, reserve management, and financial sector supervision.<\/p>\n
\u201cThe Bank\u2019s authority comes from law, not from its balance sheet,\u201d he added.<\/p>\n
He noted that similar situations have occurred in other central banks globally, including the European Central Bank and the United States Federal Reserve.<\/p>\n
Outlook for 2026<\/p>\n
The Majority expressed confidence in a stronger outlook for 2026, citing lower inflation, reduced interest rates, stable exchange rates, and ongoing reforms in reserve accumulation.<\/p>\n
\u201cThe work has been done. Inflation is down. The cedi is stronger. Reserves are at record levels. Lending rates are falling. Public debt is lower. The economy is growing. Confidence is back,\u201d he concluded.<\/p>\n
More Stories Here<\/a><\/p>\n\n\tRelated<\/p>\n","protected":false},"excerpt":{"rendered":"By Valentia Tetteh The Majority in Parliament has defended the Bank of Ghana\u2019s 2025 report, describing its financial…\n","protected":false},"author":2,"featured_media":419080,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-419079","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/419079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=419079"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/419079\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/419080"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=419079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=419079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=419079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}