BoG debunks allegations of underreporting remittance inflows

The Bank of Ghana has addressed concerns about underreporting remittance inflows following discrepancies between its data and the World Bank's.

The World Bank reported $20.7 billion in remittances to Ghana from 2018 to 2022, while the Bank of Ghana's consolidated statements indicated $9.5 billion.

Director of Communications Bernard Otabil clarified that the Bank of Ghana reports net positions, including inflows and outflows, aligning closely with the World Bank’s figures when inflows alone are considered.

He emphasized that the Bank's data is accurate, sharing consistent inward remittance figures from both institutions for 2015 and 2022.