Parliament has passed the Bank of Ghana Amendment Bill, 2025, aimed at improving transparency, accountability, and strengthening institutional checks within the country’s central bank.
During debate ahead of its passage, the Finance Minister, Hon. Cassiel Ato Forson, explained that the Bill introduces a mechanism for the automatic recapitalisation of the Bank in the event of significant losses. He stressed that this measure is designed to safeguard the continuity of monetary operations, preserve financial stability, and reinforce market confidence in the Bank’s independence.
The Minister further noted that the reforms will enhance the operational and institutional framework of the Bank, particularly in executing its monetary policy mandate. According to him, the Bill will reinforce the autonomy of the Bank, improve the effectiveness of monetary policy, and restore confidence in the country’s financial system.
A key provision of the legislation is the introduction of a legal cap on the extent to which the Bank of Ghana may provide monetary financing for government operations. The Bill also outlines exceptional circumstances under which this cap may be exceeded, subject to strict conditions and parliamentary oversight.
Observers say the passage of the Bill marks a significant step toward strengthening Ghana’s financial governance and ensuring the resilience of its monetary institutions.
Leave a Reply