The Bank of Ghana (BoG) has reported a wider operating loss for the 2025 financial year, underscoring the ongoing cost of efforts to keep inflation in check.

The Central Bank posted a loss of GH¢15.6 billion, compared to GH¢9.48 billion recorded in 2024.

This continues a run of losses over the past four years, after the bank recorded GH¢60.9 billion in 2022 and GH¢10.5 billion in 2023.

Details contained in its 2025 Annual Report and Financial Statements for the year ended December 31 show that the outcome is largely linked to the cost of its tight monetary policy stance.

Even so, the bank’s total operating income climbed to GH¢22.23 billion, supported by stronger reserve management returns, increased fee income, and proceeds from bullion gold sales.

However, the rise in income was not enough to offset mounting costs.

Expenditure on Open Market Operations (OMOs) jumped to GH¢16.73 billion in 2025, up sharply from GH¢8.59 billion the previous year, as the Bank intensified liquidity management measures.

Much of this amount went into interest payments to commercial banks that invested in OMO instruments.

Bank of Ghana financial strain deepens in 2025

The Bank also absorbed significant market-related losses, including GH¢9.05 billion from gold transactions and GH¢5.47 billion from foreign exchange revaluation and exchange rate movements.

Despite the pressures, the BoG still recorded a positive policy solvency margin of GH¢5.5 billion, suggesting that its core operations remain capable of supporting its liquidity management activities.

SO/AE

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