Member of Parliament for Tano North and Member of Parliament’s Finance Committee, Dr. Gideon Boako, has said that the Bank of Ghana’s debt recorded in 2025 is more than the GH¢15.6 billion it revealed to the public.
In its Financial Statements released on May 1, 2026, the Bank of Ghana posted a loss of GH¢15.6 billion – a colossal figure which has been described as the second highest ever loss since 2008 when the Cedi was redenominated.
Contrary to what has been presented, Dr. Boako contends, with figures, that the losses were far in excess of the figures the Bank of Ghana shared.
”Do not buy the propaganda that the loss BoG made is only GH¢15.63 billion,” Dr. Boako wrote on his Facebook page.
“It is more than that. Adding the loss in Other Comprehensive Income (OCI) of GH¢19.32 billion gives a total loss of GH¢34.95 billion. This explains why the negative equity deteriorated from GH¢58.62 billion in 2024 to GH¢93.82 billion in 2025.”
“This is the true loss made by the BoG. And this is even after reflecting income from gold sales. So excluding the income from gold sales of GH¢9.57 billion, the total loss would have been GH¢44. 52 billion. Why is it important to exclude income from 18 tons of gold sales? Because that is not operations, it was clearly accounting gimmick to hide the policy insolvency of the Bank.”
“This is way beyond the Majority propaganda by announcing operating loss of GHc15.6 billion. They quietly pushed away the huge loss of GHC19.32 billion sitting in OCI. Just note that in 2024 there was a gain of GHC4 billion in OCI and not a loss. God save Ghana.”
Dr. Boako has extensively written on the financial situation of the Bank of Ghana for some time. A few months ago, said the Bank of Ghana had incurred huge losses, adding that the losses would be exposed by the bank’s financial statements.
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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.
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