Amin Adam Flags GHS 96 Billion BoG Debt to IMF

Former Finance Minister Dr. Mohammed Amin Adam has formally alerted the International Monetary Fund (IMF). He is concerned about the Bank of Ghana’s latest financial statements. The statements cover the year 2025. Dr. Adam warns of serious risks to Ghana’s economy.

The core issue is the Bank of Ghana’s worsening negative equity. This is a situation where a company’s debts are larger than its assets. In 2025, the central bank’s negative equity reached GHS 96.28 billion. This is a sharp increase from GHS 61.32 billion in 2024. Dr. Adam argues this shows that real improvement in the bank’s financial health has not begun.

This situation fits into a wider concern about Ghana’s public finances. The country is nearing the end of an IMF Extended Credit Facility program. The IMF program aims to help Ghana manage its economy and debt. Strong central bank finances are crucial for this stability. The GHS 96.28 billion figure suggests a significant challenge for the government. It raises questions about the country's ability to manage its debts long-term.

In a letter to the IMF Mission Chief, Dr. Adam stressed the need for vigilance. He stated, “greater attention is paid to safeguarding the durability of these gains.” He also cited the Bank of Ghana's GHS 15.63 billion loss in 2025. This loss is higher than the GHS 9.49 billion recorded in 2024. Rising costs from monetary policy actions are a major cause. Other financial pressures also contribute.

These financial troubles at the central bank could affect government finances. They might also impact the country’s ability to repay its loans. Dr. Adam urges the IMF to monitor Ghana closely even after the program ends. He calls for full honesty about all public sector debts. He also wants clear rules for gold transactions and preventing the central bank from directly funding government spending. This will help protect the economic progress Ghana has made.

The Bank of Ghana’s financial health is a critical indicator for investors and international partners. The GHS 96.28 billion negative equity signals a substantial burden. This burden may directly or indirectly fall on taxpayers. The upcoming review by the IMF will likely focus on these figures. Policymakers must address these concerns to maintain confidence in Ghana’s economy. The government's response and the IMF's next steps will be closely watched.