Former Deputy Finance Minister and Chairperson of Parliament’s Public Accounts Committee, Abena Osei-Asare, has issued a warning about the declining financial position of the Bank of Ghana (BoG). She expressed concern that this deterioration could ultimately place a significant burden on taxpayers. Osei-Asare described the central bank’s increasing negative equity as a serious fiscal risk that requires immediate attention from Parliament.
In a statement shared on Facebook on Sunday, May 3, 2026, regarding the Bank’s audited financial statements for 2025, the Atiwa East MP highlighted that the central bank’s negative equity worsened sharply from GH¢58.62 billion in 2024 to GH¢93.82 billion in 2025. Additionally, the bank’s annual loss increased from GH¢9.49 billion to GH¢15.63 billion.
According to her, although the Bank remains operational, the worsening balance sheet cannot be dismissed as a mere accounting matter because the government has already committed to restoring the Bank’s capital position. She pointed to disclosures in the Bank’s 2025 financial statements showing that the government is expected to recapitalise the institution through a phased programme running from 2026 to 2032.
“The BoG’s own 2025 accounts acknowledge Government’s obligation to restore the capital base through a phased recapitalisation programme from 2026 to 2032,” she stated. Mrs. Osei-Asare argued that the implications of that commitment go beyond the central bank and could directly affect the country’s public finances.
“That means today’s losses become tomorrow’s taxpayer cost, debt instrument, or fiscal trade-off,” she said. She described the Bank’s GH¢93.82 billion negative equity position as “a fiscal warning light,” insisting that the issue should concern not only policymakers but ordinary Ghanaians who may ultimately bear the cost through public financing measures. “A functioning central bank with a GH¢93.82 billion negative equity hole is still a public finance problem, regardless of its operational continuity,” she stressed.
The former deputy minister also called for full disclosure of the government’s recapitalisation plan, including any memorandum of understanding, bond issuance arrangements, cash injections, or write-offs that may be required to restore the Bank’s capital. “I demand publication of the full recapitalisation MoU and the fiscal implications of any bonds, cash injections or write-offs,” she said.
Mrs. Osei-Asare further urged Parliament’s Finance, Economy and Public Accounts Committees to summon the Governor of the Bank of Ghana, the Finance Minister, external auditors and relevant Bank officials for urgent briefings. According to her, any recapitalisation arrangement involving public resources must be subjected to full parliamentary oversight and transparent fiscal reporting. “The public is entitled to know who is responsible, on what terms, and at what cost to the taxpayer,” she said.
Source: William Narh
