Lawyer and Senior Vice-President of IMANI Africa, Kofi Bentil, has emphasised that the Bank of Ghana is neither a profit-making nor a loss-making institution, but a body mandated to stabilise the economy, raising questions over the sustainability of recent financial losses.<\/p>\n
Speaking on Newsfile on Saturday, 2 May, Mr Bentil explained that the central bank\u2019s primary mandate is to ensure economic stability, stressing that its operations should not be assessed in terms of profit or loss.<\/p>\n
According to him, with the right level of competence and sound policy decisions, the Bank should be able to maintain stability without incurring significant financial losses.<\/p>\n
His comments come amid growing public and political scrutiny of the Bank of Ghana\u2019s projected GH\u00a215.7 billion loss for the 2025 financial year, a development that has intensified debate over the cost and sustainability of recent monetary policy interventions.<\/p>\n
He, however, raised concerns about what he described as confusion surrounding the Bank\u2019s financial position, particularly reports suggesting both profits and losses.<\/p>\n
\u201cThere must be clarity. Are we making profits or losses? The communication is not clear,\u201d he questioned.<\/p>\n
Mr Bentil noted that while losses may sometimes be justified if they are used to build a strong economic foundation, such actions must produce tangible long-term benefits.<\/p>\n
\u201cIf you take a loss to build something, then the value lies in what you build afterwards,\u201d he stated.<\/p>\n
He likened the Bank\u2019s explanation of its losses to \u201ctaking a bullet\u201d for the broader economy but questioned how sustainable that approach is.<\/p>\n
\u201cHow much of this can be sustained, and for how long?\u201d he asked.<\/p>\n
Mr Bentil acknowledged that tough economic decisions, including the Domestic Debt Programme (DDP), have helped ease pressure on the economy despite the hardship they caused.<\/p>\n
He cautioned, however, that continued losses without clear outcomes could amount to deferring problems rather than solving them.<\/p>\n
He also raised concerns about policies in the gold sector, warning against situations where Ghana, as a gold-producing country, may be trading the commodity at a loss in an attempt to curb smuggling.<\/p>\n
Mr Bentil called for greater transparency and accountability from the central bank, insisting that Ghanaians deserve clear explanations on the sustainability and long-term impact of its decisions.<\/p>\n
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n","protected":false},"excerpt":{"rendered":"Lawyer and Senior Vice-President of IMANI Africa, Kofi Bentil, has emphasised that the Bank of Ghana is neither…\n","protected":false},"author":2,"featured_media":408383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-408382","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/408382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=408382"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/408382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/408383"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=408382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=408382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=408382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}