The Majority caucus in Parliament has dismissed claims by the Minority that the Bank of Ghana understated its 2025 financial losses, insisting the reported figures are accurate and in line with accounting standards.
Atta Issah, a member of Parliament’s Finance Committee, defended the central bank’s audited accounts, stating that the officially declared loss of GH¢15.6 billion was properly calculated and fully disclosed.
The Minority had argued that the true loss was significantly higher, up to GH¢44 billion by combining other comprehensive income and adjusting for gains from gold transactions. They also alleged that accounting methods were used to mask the scale of the losses.
However, the Majority rejected this interpretation, emphasizing that profit or loss and other comprehensive income are separate accounting components and should not be merged. It explained that other comprehensive income reflects non-cash items such as valuation changes and exchange rate movements, which do not represent operational losses.
On the issue of gold transactions, the Majority maintained that the reported GH¢9.57 billion gain from gold sales was legitimate, describing it as a realized gain from standard reserve management practices.
The caucus further described the Minority’s higher loss estimates as “methodologically flawed,” citing double counting and the exclusion of valid income streams. It also addressed concerns about the Bank’s rising negative equity, attributing it to cumulative factors including the Domestic Debt Exchange Programme and monetary policy interventions.
Concluding, the Majority insisted that the central bank’s financial statements are transparent and complete, arguing that the disagreement stems from differing interpretations rather than any lack of disclosure.
