Is the IMF Complicit in Bank of Ghana’s Massive 2025 Losses? – IERPP

The Bank of Ghana’s 2025 financial statements confirm an operating loss of GH¢34.9 billion for the year (inclusive of other comprehensive income losses), compared with GH¢9.49 billion in 2024. These figures raise serious questions about the Central Bank’s explanation that the losses represent “the cost of maintaining economic stability.” Stability is important, but it cannot become a blanket justification for large financial losses without clear explanation. The central question is simple: could the same macroeconomic gains have been achieved at a lower cost?

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