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BoG records ¢60.8bn loss in 2022

The Bank of Ghana recorded a loss of ¢60.8 Billion Ghana cedis in 2022, its Annual Report and Financial Statements has revealed.

The Central Bank’s record loss is coming after it posted a ¢1.2 billion profit in 2021.

According to the Annual Report and Financial Statements, the loss is attributed to a decline in the Group’s net worth position due to the impact of the Domestic Debt Exchange Programme (DDEP) and impairment of some assets.

Again, its total liabilities and subsidiaries exceeded its total assets by ¢54.52 billion.

July 29, 2023

References:

• https://myjoyonline.com/https-myjoyonline-com-bog-records-60-8bn-loss-in-2022
• https://www.modernghana.com/news/1251091/gh60bn-loss-bogs-response-filled-with-distortio.html
• https://www.ghanaweb.com/GhanaHomePage/NewsArchive/GH-60-billion-BoG-loss-Bawumia-would-have-resigned-if-he-respected-Ghanaians-NDC-1826264
• https://www.graphic.com.gh/business/business-news/bank-of-ghana-on-why-it-made-60-billion-loss-in-2022.html
• https://www.ghanaweb.com/GhanaHomePage/NewsArchive/The-GH-60-billion-loss-by-the-Bank-of-Ghana-is-enough-to-pay-NABCO-beneficiaries-for-60-years-Edudzi-Tameklo-1824605
• https://www.bog.gov.gh/news/statement-on-bank-of-ghanas-2022-financial-statements/
• https://thebftonline.com/2023/08/11/navigating-bogs-gh%C2%A260bn-loss-absorption-in-ddep/
• https://www.businessghana.com/site/news/general/291629/GH-60-billion-loss-We-took-half-of-debt-haircut-Bank-of-Ghana