DDEP impacts BOG as bank seeks early recapitalisation – Report

The Bank of Ghana (BOG) has been impacted by the Domestic Debt Exchange Programme (DDEP) and is seeking recapitalization from development partners, according to its 2023 financial report.

The DDEP has negatively affected the bank's balance sheet, leading to a Memorandum of Understanding (MOU) for medium-to-long-term recapitalization within the context of an ongoing IMF programme.

The BOG reported a GH¢10.50 billion loss for 2023, with liabilities exceeding assets by GH¢65.36 billion.

To address this, the bank plans to avoid financing the government's budget and optimize its investment portfolio and operating costs to enhance efficiency and profitability.