The Majority Caucus in Parliament has strongly pushed back against criticism from the Minority over reported financial losses at the Bank of Ghana (BoG), insisting that the figures being circulated are clear, verifiable, and should be understood in their proper economic context.
In a sharp rebuttal, leading members of the Majority described the Minority’s comments as misleading and politically motivated, arguing that the central bank’s financial position cannot be reduced to isolated figures without a full examination of its balance sheet, policy interventions, and extraordinary economic circumstances in recent years.
According to the Majority, the latest financial disclosures from the Bank of Ghana show that while headline losses may appear significant, they reflect broader macroeconomic stabilisation efforts, including emergency support to the financial sector, currency stabilisation measures, and liquidity interventions during periods of economic stress.
“The numbers speak for themselves,” one Majority spokesperson stated, stressing that the central bank’s operations must be assessed within the wider framework of national economic management rather than political rhetoric. He added that extraordinary times often require extraordinary measures, which inevitably have short-term fiscal implications.
The Majority further accused the Minority of selectively quoting figures without acknowledging the structural reforms currently underway to strengthen the central bank’s balance sheet and improve long-term financial resilience.
They also pointed to ongoing coordination between fiscal authorities and the BoG aimed at restoring confidence in the economy, stabilising inflation, and ensuring exchange rate predictability.
On the other hand, the Minority maintains that the reported losses raise serious concerns about financial oversight and accountability, calling for deeper parliamentary scrutiny and independent clarification from the central bank.
The disagreement has intensified debate in Parliament, with both sides holding firmly to their positions. Analysts say the issue is likely to remain a key point of contention as lawmakers continue discussions on public financial management and central bank reforms.
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