GH₵94bn Negative Equity: Is it time for the Bank of Ghana to think like investors or step too far?

The Bank of Ghana (BoG) faces a pressing challenge. As of 2025, its negative equity position has reportedly worsened to approximately GHS 94 billion (US$ 7,965,585,380.00), driven largely by the Domestic Debt Exchange Programme (DDEP), monetary policy operations, and exchange rate-related losses. While central banks can technically function with negative equity, doing so indefinitely risks undermining credibility, policy effectiveness, and market confidence. Notwithstanding the traditionally ...

By Albert Kuzor