Former Finance Minister and Ranking Member on Parliament’s Finance Committee, Dr Mohammed Amin Adam, has petitioned the International Monetary Fund (IMF) over concerns arising from the Bank of Ghana’s audited 2025 financial statements, warning of what he describes as “material implications” for Ghana’s macroeconomic stability and fiscal outlook.
In a detailed letter to the IMF Ghana Mission Chief under the Extended Credit Facility (ECF) programme in Washington, D.C., Dr Amin Adam said the Fund must pay closer attention to safeguarding gains made under the programme.
He commended the IMF’s support but stressed that “greater attention is paid to safeguarding the durability of these gains” as Ghana exits the programme.
He raised concerns over what he described as a worsening negative equity position at the central bank, citing figures showing an increase from GH¢58.62 billion in 2024 to GH¢93.82 billion in 2025 for the group, and GH¢61.32 billion to GH¢96.28 billion for the Bank of Ghana itself.
According to him, this reflects a situation where “meaningful balance sheet repair has not yet commenced in substance.”
Dr Amin Adam also highlighted rising losses and monetary policy costs, noting that “the Bank recorded a loss of GH¢15.63 billion in 2025, compared with GH¢9.49 billion in 2024,” driven largely by high open market operation expenses and other financial pressures.
He warned that such developments could have spillover effects on government finances and debt sustainability.
He urged the IMF to strengthen post-programme surveillance and ensure full transparency in central bank operations, insisting that “the durability of that progress will depend on whether fiscal consolidation is supported by transparent recognition of all public-sector obligations.”
He further called for clearer treatment of gold transactions, recapitalisation plans, and safeguards against monetary financing to protect Ghana’s economic gains.
Source: adomonline.com
