The Minority in Parliament has accused the Bank of Ghana of being “policy insolvent,” arguing that the central bank is unable to sustain its core monetary operations without relying on one-off measures such as asset sales.
At a press conference on Sunday (3 May), Kojo Oppong Nkrumah, Ranking Member on Parliament’s Economy and Development Committee, said the caucus’ assessment was based on a review of the bank’s 2025 audited financial statements, which it believes present a weaker financial position than officially reported.
The Minority said the central bank’s reported operational income of 22.2 billion cedis included a one-off gain of 9.6 billion cedis from gold sales, which it argued should not be classified as sustainable income.
Excluding that gain, the caucus said, reduces operational income to about 12.7 billion cedis, creating a deficit of roughly 4 billion cedis when compared to sterilisation costs linked to monetary policy operations.
“Minus 4 billion cedis puts the Bank of Ghana in policy insolvency,” Oppong Nkrumah said, warning that reliance on asset disposals to bridge funding gaps is not a viable long-term strategy.
The group further alleged that the sale of gold reserves was intended to “create artificial revenue” and obscure the bank’s underlying financial position, adding that such measures signal growing strain within the institution.
The Minority linked the situation to what it described as costly policy decisions, including increased reliance on expensive liquidity management tools, pointing to a sharp rise in interest payments on central bank bills.
“These are not unavoidable costs. They are the direct result of policy choices,” the caucus said.
It warned that continued financial pressure could undermine the central bank’s ability to carry out its mandate of maintaining price stability and supporting the economy, and cautioned that a government bailout may become necessary if corrective measures are not taken.
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