BoG Chop GH¢9.49 Billion Loss for 2024, But Ebi Beta Pass Last Year!
Colaboradores
Ei Ghana! The Bank of Ghana (BoG) dey report say dem chop operating loss of GH¢9.49 billion for the 2024 financial year. Chale, money no dey oo! But make we no lie, ebi small beta pass the GH¢13.23 billion loss wey dem talk say dem chop for 2023.
According to the central bank ein financial statements, the GH¢9.49 billion loss come from total income of GH¢9.40 billion, wey the operating expenses beat am finish. The expenses reach GH¢18.89 billion! Hmmm, something dey happen.
Although things dey improve small small, e still show say the central bank dey face some tough times. Things no easy for Ghana economy!
Why the BoG Chop Loss?
Dem talk say three things make the loss happen. First, na the GH¢8.60 billion cost of open market operations. Dem dey use am to control inflation, but e dey chop money.
Second, na GH¢3.49 billion wey come from revaluation and exchange rate losses, including GH¢1.82 billion wey dey tie to the government ein Gold-for-Oil programme. The dollar dey do strong things oo!
Last last, currency issuance expenses rise, reach GH¢1.01 billion in 2024 from GH¢0.69 billion last year. Printing money too dey cost!
Hope Dey Small?
Even though dem chop loss, the Bank talk say dem get net comprehensive gain of GH¢4.02 billion in 2024. Ebi good news small, because dem chop net comprehensive loss of GH¢9.19 billion for 2023. E help them improve their equity position small, although e still dey negative at GH¢61.32 billion. But e beta pass the GH¢65.34 billion wey dem report last year. Small small, we go get there!
Dem talk say the gain come from how dem dey value gold, special drawing rights (SDRs), and foreign securities. These things help them cover some of the operational problems.