Bank of Ghana not bankrupt — Bernard Otabil replies Ayariga

Bernard Otabil, Director of Communications for the Bank of Ghana (BoG), has denied claims of the central bank's bankruptcy amidst accusations of mismanagement by the minority.

Otabil emphasized that central banks globally register losses while maintaining price stability and public good over profit. He stated that the BoG is policy solvent, not bankrupt, and explained that the 2023 financial loss was due to inflation reduction and the Domestic Debt Exchange Programme.

He highlighted the BoG’s strategic planning, adherence to budgetary processes, and the necessity of government recapitalization.

Otabil affirmed the bank's commitment to price stability and improved living standards.