Dr Richmond Atuahene, Banking Consultant Audio By Carbonatix Banking consultant Dr. Richmond Atuahene has described the Bank of Ghana’s (BoG) reported GH₵15.6 billion loss as a “necessary evil,” arguing that they reflect policy actions taken to stabilise the macroeconomic environment rather than operational failure. Speaking on Joy FM’s Super Morning Show on Friday, May 1, Dr. Atuahene said the central bank’s 2025 financial results, though appearing worrying on the surface, require deeper analysis to understand their underlying drivers. “What I’ve seen is that their losses have increased, and it looks like a big worry, but if you go into the details, you would appreciate that it is a necessary evil,” he said. He explained that the headline losses were largely driven by three major factors: currency revaluation effects, open market operations (OMO), and issues relating to gold transactions. According to him, foreign exchange revaluation losses occur when the cedi appreciates against major foreign currencies such as the US dollar or euro, affecting the valuation of the central bank’s foreign assets. He further noted that the Bank of Ghana’s aggressive use of OMO instruments to contain inflation also contributed significantly to the losses. “If you want to bring inflation down, you have to be aggressive through OMO operations. That made them move from about GH₵ 8.1 billion to GH₵ 16.7 billion in losses,” he explained. Dr. Atuahene also pointed to ongoing challenges in the accounting and management of gold transactions, describing them as a long-standing issue dating back to 2021. “The gold issues are not new. We need to sit down as a country and restructure gold transactions because they are very important for currency stability and reserve building,” he said. He stressed that despite the financial losses, the central bank’s actions were aimed at strengthening macroeconomic stability and restoring confidence in the economy. DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited. Tags: BoG Dr Richmond Atuahene Macroeconomic stability DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited. Related to this story We need to restructure Ghana’s gold transactions – Dr Atuahene BoG GHS15.6bn loss: Yesterday’s whistleblowers have become today’s defenders – Oppong Nkrumah 2025 BoG GH¢15.7bn loss was a peak, future results expected to improve – Atta Issah BoG’s GH₵15bn loss does not affect monetary policy – Majority Minority accuses Majority of attempting to “shift public perception” ahead of BoG’s GH¢15bn publication BoG warns inflation battle far from over despite stability gains Inflation expected to return to 8 ± 2% in 2026 – BoG BoG 2025 Financial Statements: The figures will soon judge the voyage Credit to corporate institutions tighten in first two months of 2026 Banks wrote-off GH¢394.8m as bad debt in February 2026 Latest Stories We need to restructure Ghana’s gold transactions – Dr Atuahene5 minutes BoG’s GH₵15.6bn loss “necessary evil” for macroeconomic stability – Dr Richmond Atuahene5 minutes New footage shows how Trump dinner gunman charged through security in four seconds10 minutes Ministry of Health warns against fraudulent recruitment links ahead of nursing intake11 minutes Nkwanta police arrest 2 with gun, over 11,000 rounds of ammunition concealed in truck14 minutes “I’m so ready” – Black Sherif reacts to 9 TGMA 2026 nominations28 minutes I want to contribute to the museums of inspirations – Black Sherif29 minutes Black Sherif plans comeback to classroom after leaving UPSA38 minutes Curfew lifted in Karaga as gov’t maintains ban on arms38 minutes May Day : ICU urges gov’t to turn economic gains into real relief for workers39 minutes Prompt engineering, the 24-Hour Economy, and Ghana’s AI future40 minutes Engineers & Planners pays $2m into Black Stars’ 2026 World Cup fundraising drive41 minutes Gov’t assures fair returns for cocoa farmers despite expected global price drop42 minutes NAGRAT demands urgent teacher recruitment, funding reforms on May Day44 minutes Resilient power systems security is a key for reliable electricity supply44 minutes