Ghana's government has committed to fully recapitalise the Bank of Ghana by the year 2032. This pledge comes after Parliament passed amended legislation for the central bank. The new law aims to ensure the Bank of Ghana's long-term financial stability.
The recapitalisation will be a gradual process. It will start now and continue until 2032. This is to help the central bank fulfil its mission of maintaining stable prices. The government aims to support the bank in overcoming its negative equity position.
This action is part of Ghana's broader economic strategy. The country recently concluded a US$3 billion loan programme with the International Monetary Fund (IMF). The Bank of Ghana faced substantial losses in 2025. Operating losses reached GHS15.63 billion. Other Comprehensive Income loss was GHS19.32 billion. The bank's negative equity grew from GHS61.32 billion to GHS96.28 billion in 2025.
Finance Minister Dr Cassiel Ato Baah Forson stated the government's commitment. He announced the end of the IMF programme at a press briefing. He explained that the new legislation provides legal backup for recapitalisation. "The government is committed to fully capitalise the central bank," he said. "It’s a gradual process from now to 2032." The law also includes automatic recapitalisation. "If anytime the central bank falls below its minimum capital, the central government automatically capitalises the central bank." He assured that restoring the Bank of Ghana's financial health is a top priority.
Mr Ruben Atoyan, IMF Mission Chief to Ghana, expressed confidence. He described the bank's financial situation as "inevitable capital." He noted that 2025 was challenging. High costs arose from tight monetary policy and rising interest rates. Exchange rate movements also impacted the bank. He believes the 2032 recapitalisation target is achievable. The IMF included this plan in its debt sustainability analysis. The Fund supports the sale of some gold holdings. This would help strengthen the bank's balance sheet. Discussions with Ghanaian authorities focused on reducing losses. These losses stemmed from the domestic bond programme.
This recapitalisation effort is crucial for Ghana's economic recovery. The IMF sees it as a foundation for durable growth. The aim is to build a stronger economy. This economy should withstand future shocks without needing more bailouts. The government must remain vigilant and stick to reforms. This process will help secure Ghana's financial future.