The Bank of Ghana (BoG) reported a negative equity position of GH¢96.3 billion in 2025, representing 6.7% of the country's GDP. This significant loss has sparked a call for action from the Institute for Economic Research and Policy in Africa (IERPP).
BoG's Gold Purchase Programme Generates Losses
The Domestic Gold Purchase Programme (DGPP) operations have generated significant losses for the BoG, according to an IMF report. These losses are estimated to be $1.7 billion in 2025, as reported by Peace FM. The BoG's negative equity position is among the worst reported by any central bank globally.
IERPP Demands Accountability
The IERPP has demanded accountability from the BoG for its negative equity position. The institute is calling for a clear plan to address the BoG's losses and negative equity. The IERPP's stance is that the BoG's losses and negative equity position are a direct result of its policy measures, as stated by the Majority Caucus in Parliament.
Economic Growth Amidst Losses
Despite the BoG's significant losses, the country's economy has shown signs of growth. According to the Majority Caucus in Parliament, Ghana's GDP expanded by about 6.0% in 2025, while non-oil GDP growth reached 7.8%. The country's per capita income also rose to about $3,193.
Calls for Action
The Minority in Parliament has petitioned the IMF over the BoG's GHS16 billion loss and negative equity concerns. The New Patriotic Party (NPP) has also called on the government to publish a plan to address the BoG's negative equity position. The NPP's stance is that the government must take responsibility for the BoG's losses and negative equity position.
What's Next
The BoG's negative equity position and losses are a significant concern for the country's economy. The IERPP's call for accountability and the Minority's petition to the IMF highlight the need for a clear plan to address the BoG's losses and negative equity position. The government must take concrete steps to address the BoG's negative equity position and losses to ensure the country's economic stability.
Source: 3News
