Dalex Finance Chief Executive Officer Joe Jackson says the focus on the Bank of Ghana’s reported financial losses, should be on the broader economic impact on ordinary citizens rather than accounting figures alone.
Speaking on the Channel One Newsroom on Monday May 4, Mr. Jackson said the key issue is whether monetary policy decisions have helped stabilise the economy and improved living conditions.
He noted that what matters most to the public is the stability of the currency and predictability in prices, rather than technical discussions around central bank losses.
“What does it matter when the cedi goes from GHS14 to the dollar at the beginning of the year to GHS10 to the dollar at the end of the year? What matters to businesses is that they can plan better and that inflation is more predictable,” he said.
Mr. Jackson argued that if the cost of achieving such stability amounts to less than two percent of GDP, many businesses and citizens would consider it worthwhile.
He added that while the Bank of Ghana’s losses should not be dismissed, they must be properly contextualised.
“The loss is big and we should look at it going forward, but let’s not overestimate how much it will affect us,” he stated.
His comments come amid ongoing public debate over the Bank of Ghana’s 2025 financial statement, which recorded a loss of about GHC15.6 billion.
Finance and tax analyst Nelson Cudjoe Kuagbedzi and some analysts alike have defended the central bank’s position, arguing that the losses reflect deliberate policy actions aimed at stabilising inflation, strengthening the currency, and improving overall macroeconomic conditions.
They maintain that the Bank of Ghana’s core mandate is price and financial stability, not profit generation, and that recent interventions have contributed to a sharp decline in inflation and improved economic outlook.
Read also
BoG’s 2025 losses justified as cost of stabilising economy – Analyst
Read also
