Dr Gideon Boako, the Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee
As the nation grapples with the staggering GH¢15.6 billion operational loss recorded by the Bank of Ghana, some analysts are pointing to factors they believe contributed to the outcome.
The Member of Parliament for Tano North, Dr Gideon Boako, has criticised the Central Bank, accusing it of allowing political considerations to influence its policy decisions.
According to Dr Boako, who is also a member of Parliament’s Finance Committee, the scale of the loss was driven by what he described as politically motivated policy choices, rather than efforts to ensure economic stability.
Dr Boako, who has spoken extensively about the financial position of the Central Bank in recent months and had predicted significant losses, said he was surprised by the scale of the outcome, particularly after what he described as signs of improvement in the previous year.
“2025 was not a crisis year. The Bank’s 2024 financial statements showed a system slowly healing. Operating losses had narrowed from GH¢13.23 billion to GH¢9.49 billion. Other Comprehensive Income had turned positive. FX valuation losses were moderating. The balance sheet was stabilising. Then 2025 arrived, and the new management at the Bank of Ghana reversed the progress they inherited,” he wrote in an article on his Facebook page.
“The question is not whether losses can occur in central banking—they can. The question is: why did a central bank that had begun to recover suddenly plunge into the largest non-crisis loss in its history?” he added.
Dr Boako attributed the development to what he described as policy decisions influenced by political considerations rather than purely economic objectives.
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Source: www.myjoyonline.com