Recapitalisation of Bank of Ghana: The chickens are coming home to roost – Ato Forson

Minority Leader Dr. Cassiel Ato Forson has accused the Bank of Ghana (BoG) of recklessness, leading to the need for recapitalization.

His criticism followed BoG Governor Dr. Ernest Addison's justification for the recapitalization to bolster credibility in planned reforms.

At a joint press conference on July 1, 2024, Dr. Addison emphasized the importance of the move to restore BoG's financial health after significant losses in 2022 and 2023.

The recapitalization plan, detailed in a forthcoming memorandum of understanding with the Ministry of Finance, aims to ensure the central bank can effectively manage monetary policy and ensure price stability.