Dr Gideon Boako, a member of the Parliamentary Committee on Finance, questioned the dimensions of the losses recorded by the Financial institution of Ghana, arguing that stabilizing the financial system shouldn’t come at such a excessive monetary value.
Feedback on JoyNews information file On Saturday, Might 2, Dr Boako stated that whereas latest enhancements in macroeconomic stability are evident, the GH¢15.6 billion loss recorded by the central financial institution in 2025 raises considerations concerning the method used to attain that final result.
“We acknowledge that there’s some stability,” he stated. “However this value for stability is unacceptable, as we don’t must endure large losses earlier than stabilizing the financial system.”
His feedback got here because the Financial institution of Ghana reported a lack of GH¢15.6 billion.
He maintained that Ghana had a interval of sturdy financial efficiency with out imposing vital fiscal burdens on the central financial institution.
He stated that from 2017 to 2019, the nation recorded sustained progress, recorded nearly two years of single-digit inflation, and achieved improved fiscal stability with out the losses presently being reported.
“For 3 years in a row, the expansion price rose from about 3.4% to a mean of about 7%. We had about 24 months of single-digit inflation, and we recorded a major stability surplus. There was stability, however such large losses didn’t happen,” he identified.
Dr Boako acknowledged that the financial shock of 2020-2022 required coverage intervention, together with aggressive inflation management measures. Nevertheless, he argued that the dimensions of the losses related to these interventions wanted to be scrutinized.
“Sure, there was a disaster and we would have liked to take motion. However containing the disaster doesn’t imply that any degree of value needs to be accepted with out query,” he added.
Dr Boako argues that whereas stabilization efforts can contain trade-offs, policymakers want to make sure prices are proportionate and sustainable.
