The Majority Caucus in Parliament has commended the Bank of Ghana for a substantial expansion in the nation’s international reserves, which rose from nine point one billion United States dollars in 2024 to fourteen point five billion dollars as of February 2026, representing a notable progression from the thirteen point eight billion dollars recorded at the close of 2025 and establishing the highest reserve level ever achieved by the country.
Addressing journalists within Parliament last Thursday, Atta Issah, a member of the Finance Committee and representative for Sagnarigu, indicated that the central bank’s benchmark policy rate had undergone a significant downward adjustment, declining from twenty seven per cent at the end of 2024 to fourteen per cent as of March 2026, a shift that has been mirrored in commercial lending conditions across the financial sector.
He explained that average lending rates have correspondingly reduced from thirty point two per cent to seventeen point seven per cent, thereby easing borrowing conditions and broadening access to credit for individuals and enterprises. In his remarks, he underscored that the reduction translates into more affordable financing for small scale entrepreneurs seeking business expansion, agricultural producers procuring essential inputs, traders replenishing inventory, and households pursuing home ownership.
The commendation follows the publication of the Bank of Ghana’s financial statements for the 2025 fiscal year, which outline the institution’s monetary policy outcomes and broader economic impact.
On the question of fiscal sustainability and economic performance, Mr Issah observed that Ghana’s public debt burden has contracted from sixty two point five per cent of gross domestic product to forty five per cent, reflecting coordinated stabilisation measures implemented by the central bank in collaboration with the Ministry of Finance. He further noted that the national economy expanded by six per cent in 2025, surpassing the initial growth projection of four per cent.
He emphasised that these improvements were secured despite persistent external pressures, including armed conflicts, evolving trade tariff regimes, and capital outflows from developing economies. According to him, in the absence of such policy interventions, reserve levels might have deteriorated further while borrowing costs could have exceeded thirty per cent, adding that Ghana has demonstrated resilience relative to other economies confronting similar global constraints.
Mr Issah attributed the outcomes to deliberate and calculated policy choices, acknowledging that these measures imposed financial strain on the central bank. He remarked that although the Bank of Ghana absorbed considerable costs in executing these policies, the broader population continues to derive tangible benefits from the resulting macroeconomic stability.
Notwithstanding these gains, the financial position of the central bank reflects ongoing challenges. The institution recorded a net loss of fifteen point six billion Ghana cedis in 2025, compared to a loss of nine point four billion cedis in 2024. In addition, it registered nineteen point three two billion cedis in other comprehensive losses, largely attributable to the appreciation of the domestic currency and its effect on the valuation of foreign denominated assets.
The Bank of Ghana’s balance sheet also indicates a negative equity position, which stood at sixty one point three billion cedis at the end of 2024, in contrast to a previously positive position of one point two billion cedis, before improving to a negative thirty five billion cedis by the end of 2025, reflecting partial recovery though remaining in deficit.
