Lawmakers in Parliament are pointing fingers at the Akufo-Addo government. They say it has failed to bring stability to Ghana's economy. This is happening even though the Bank of Ghana has lost a lot of money. The central bank recorded total losses of over GHS80 billion. These losses occurred between 2022 and 2024.
The criticism comes after worrying results from the central bank. In 2025 alone, the Bank of Ghana lost another GHS15.6 billion. Eric Afful, Chairman of Parliament’s Economy and Development Committee, spoke to journalists. He stated that these big losses for the central bank did not lead to better economic conditions. Key economic measures like inflation and the currency's value stayed under pressure. This makes people question if government plans are working.
Ghana has struggled with high prices. Inflation shot up to 54.13% in 2022. By the end of 2024, it had fallen but was still at 23.84%. The national currency, the cedi, also lost value. By December 2024, the cedi was trading around GHS14 to one US dollar. This represents a drop of about 19.7% in its value. Ghana’s foreign currency savings, called gross international reserves, were about $9.3 billion in 2024. This amount could only pay for roughly four months of imports.
The Bank of Ghana’s own finances have weakened. Its equity position, which is like its net worth, became negative. In 2023, this negative equity was GHS64.34 billion. It improved slightly to a negative GHS61 billion in 2024. Mr. Afful argued that even with the Bank of Ghana's actions, the economy has not become stable. Prices are still rising, the cedi is falling, and the country does not have much foreign currency saved.
The Majority believes these numbers show deeper problems in Ghana's economy. They stated that the 2025 financial results should be seen as part of ongoing efforts to fix the economy. They are not isolated events. These outcomes are the result of planned and needed actions taken to stabilise the country's finances. The Majority insists that these figures highlight persistent issues within the economic system during the period being examined.