Bank of Ghana records GH₵10.5bn loss in 2023

The Bank of Ghana recorded a loss of GH₵10.50 billion for 2023, primarily due to a GH₵6.7 billion increase in interest expenses from open market operations aimed at managing excess liquidity and supporting disinflation.

Total liabilities exceeded assets by GH₵65.36 billion as of December 31, 2023. Operating expenses dropped to GH₵19.2 billion from GH₵66.9 billion in 2022 due to lower impairment charges. The loss marks an improvement from the GH₵60.9 billion loss in 2022.

Despite the significant loss, the Bank highlighted successful efforts in reducing inflation and reaffirmed its policy solvency, deciding against paying dividends for the period.