Bank of Ghana clarifies losses after Reuters report

Research director explains $5.4 billion loss for 2022 mainly due to debt restructuring

Bank of Ghana
The Bank of Ghana

Ghana’s central bank has clarified its current financial position following a Reuters report saying the Ghanaian government “has written off” half of its debt to the central bank.

The central bank reported a 60.8 billion cedi ($5.4 billion) loss in its 2022 annual report, due mainly to a domestic debt restructuring programme.

In a July 28 report, Reuters said the Ghanaian state had cancelled half of a sum of 77.6 billion cedi “it owed to the central bank and replaced the remainder with a lower

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