• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Former President John Mahama criticizes Bank of Ghana’s GHS 60bn loss

2 years ago
in Features, highlights, Home, home-news, latest News
1 min read
0 0
0
99
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Former President John Mahama criticizes Bank of Ghana’s GHS 60bn loss

Former President John Mahama has criticized the Bank of Ghana (BoG) for attributing its recent losses primarily to the government’s domestic debt exchange program.

The central bank reported losses amounting to GHC60.81 billion for the 2022 financial year, a significant contrast to the GHC1.23 billion profit recorded in 2021.

The losses were largely attributed to the government’s domestic debt restructuring efforts and the depreciation of the cedi, among other factors.

The BoG’s audited financial statement for 2022, released on July 28, revealed that as of December 31, 2022, the total liabilities of the central bank and its subsidiaries exceeded its total assets by GHC54.52 billion.

Expressing his perspective on this development via a tweet on August 10, Mahama stated, “An incompetent Finance Minister damages the economy and uses Covid-19 and Ukraine/Russia war as cover-ups. A pliant Governor destroys the Central Bank and seeks to use DDE as a cover.”

Call for Resignation by Minority in Parliament

RelatedPosts

Policy Inconsistencies, Underinvestment Undermining Ghana’s Oil Revenue Growth – Prof Lord Mensah

GSE Composite Index Declines as Market Capitalisation Falls to GH¢168.02bn

European Football’s Power Shift: The Rise of the EFC

Concurrently, the Minority in Parliament has issued a 21-day ultimatum for the resignation of the Bank of Ghana’s Governor, Dr. Ernest Addison, and his two deputies. Should they not comply, the Minority threatens to take further action.

Minority Leader, Dr. Cassiel Ato Forson, announced this ultimatum during a news conference on August 8, affirming that they will stage a march to occupy the Bank of Ghana if the trio does not step down.

He asserted, “We are resolved to embark on popular action to occupy the central bank and drive out the team of inept, callous, and criminal mismanagers of the finances of this country and Save the Bank of Ghana.”

Forson criticized the bank’s leadership for investing $250 million (approximately GHC 2.8 billion) in a new Head Office building at Ridge, despite the bank’s purported financial challenges.

He remarked, “In our circumstances, this is the height of insensitivity in the management of the finances of a troubled country.”

Tags: Bank of Ghanaformer president John MahamaFormer President John Mahama criticizes Bank of Ghana's GHS 60bn loss
No Result
View All Result

Highlights

Atlantic Lithium Discovers New High-Grade Spodumene Pegmatite Occurrences in Côte d’Ivoire

UEFA Champions League Matchday 3: Key stats and what to look out for in every game

GPL: Gold Stars ends Heart of Lions’ Unbeaten run as Karela hold Eleven Wonders in Swedru

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

Trending

Business

Policy Inconsistencies, Underinvestment Undermining Ghana’s Oil Revenue Growth – Prof Lord Mensah

October 21, 2025

Policy Inconsistencies, Underinvestment Undermining Ghana’s Oil Revenue Growth - Prof Lord Mensah Financial Economist and Head of...

GSE Composite Index Declines as Market Capitalisation Falls to GH¢168.02bn

October 21, 2025

European Football’s Power Shift: The Rise of the EFC

October 21, 2025

Atlantic Lithium Discovers New High-Grade Spodumene Pegmatite Occurrences in Côte d’Ivoire

October 21, 2025

UEFA Champions League Matchday 3: Key stats and what to look out for in every game

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.