The Bank of Ghana has promised to adhere to the zero financing of the budget going forward.
This follows the signing of a Memorandum between the Central Bank and the Ministry of Finance in 2023.
In addition, it will continue with policy measures aimed at optimizing the Central Bank’s investment portfolio and operating cost mix to bolster efficiency and profitability.
This were captured in the 2024 Financial Statement audited by Deloitte as part of its policy solvency measures.
Due to the above, the Central Bank said the Board is continuing to take actionable steps to ensure a recovery and build-back of a positive equity position within the medium to long term.
It added that the policy solvency outcome for 2024 is consistent with the view held in 2023 that the Bank will continue to operate efficiency and effectively on a going concern basis and achieve its policy mandate, despite the significant losses recorded at that time.
“From a macroeconomic perspective as macroeconomic conditions continue to improve and inflation declines toward the medium-term target, interest rates will also decline and as a result Cost of Open Market Operation will reduce”, the statement explained.
It added that a decline in inflation will support exchange rate stabilization.