Audio By Carbonatix Member of the Finance Committee of Parliament, Dr Gideon Boako, has questioned the scale of losses recorded by the Bank of Ghana, arguing that economic stability should not come at such a high financial cost. Speaking on JoyNews’ Newsfile on Saturday, May 2, Dr Boako said while recent gains in macroeconomic stability are evident, the GH¢15.6 billion loss recorded by the central bank in 2025 raises concerns about the approach used to achieve those results. “I can recognise that there is some level of stability,” he said. “But the cost of this stability is unacceptable, because you don’t need to incur huge losses before you can stabilise your economy.” His comments come in the wake of the Bank of Ghana reporting a GH¢15.6 billion loss. He argued that Ghana has previously experienced periods of strong economic performance without imposing significant financial strain on the central bank. According to him, between 2017 and 2019, the country recorded sustained growth, single-digit inflation for nearly two years, and improved fiscal balances without the kind of losses now being reported. “We had growth moving from about 3.4 per cent to an average of about 7 per cent for three consecutive years. We had about 24 months of single-digit inflation and recorded a primary balance surplus. There was stability, but we did not incur these huge losses,” he noted. Dr Boako acknowledged that the economic shocks between 2020 and 2022 required policy interventions, including aggressive inflation control measures. However, he maintained that the scale of losses associated with those interventions must be scrutinised. “Yes, there was a crisis, and measures had to be taken. But containing the crisis does not mean we should accept any level of cost without question,” he added. Dr Boako insists that while stabilisation efforts may involve trade-offs, policymakers must ensure that the cost remains proportionate and sustainable. 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 Gideon Boako 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. Related to this story If BoG isn’t a profit-making institution, it also can’t be a loss-making one – Kofi Bentil Sale of gold bought between 2023 and 2024 saved Bank of Ghana from a GH¢33 billion loss BoG lost GH¢9.05bn from gold purchase programme in 2025 The real reasons Bank of Ghana losses increased in 2025 – Dr Gideon Boako Bank of Ghana’s total loss for 2025 is GH¢44.5 billion not GH¢15.6 billion – Gideon Boako Playback: Newsfile tackled Akosombo fire and BoG’s GH¢15.6bn loss Central banks, like governments, pay the price to stabilise the economy Celebrating the backbone of our economy: GHRASP marks Workers’ day 2026 BoG’s GH₵15.6bn loss “necessary evil” for macroeconomic stability – Dr Richmond Atuahene Gideon Boako ‘vindicated’ as BoG reports GH¢15.6bn operational loss Latest Stories NACOC disrupts suspected drug network in Winneba ahead of Aboakyiri Festival14 minutes You don’t need to incur GH¢15.6bn loss to stabilise the economy – Dr Boako tells gov’t26 minutes Video: Dr Gideon Boako explains why he thinks BoG’s 2025 losses is more than GH¢15.6bn31 minutes The Bank of Ghana has not made any losses that should be a topic for discussion — Sammy Gyamfi1 hour AMA to reintroduce Town Councils to enhance sanitation enforcement1 hour Central bank’s inflation fight since 2022 came at a cost – Prof Turkson1 hour If BoG isn’t a profit-making institution, it also can’t be a loss-making one – Kofi Bentil2 hours Rethinking intelligence in the age of Artificial Intelligence3 hours ‘Every day is about survival’ – Workers demand action beyond May Day celebrations3 hours Clear leadership demonstrated in managing recent power crisis – Dr Theo Acheampong3 hours Accountability is defective in the energy sector – Ben Boakye3 hours From detection to creation: Why education must move beyond AI plagiarism3 hours Ghanaians keep paying for inefficiencies in the power sector – Prof Bokpin3 hours Ghana’s power system not robust, outages inevitable – Ben Boakye3 hours Beyond insults: The I.D.E.M playbook for political parties in the age of the ‘social media minister’3 hours