No Taxpayer Bailout for BoG – Ato Forson Declares
Finance Minister insists the central bank must find internal solutions to its financial crisis
- Dr. Ato Forson rules out using taxpayer funds to recapitalise the Bank of Ghana
- Urges BoG to sell non-essential assets and reduce expenditure instead of relying on public funds
- Suggests BoG reinvest profits over the next decade to rebuild its financial standing
Finance Minister Dr. Cassiel Ato Forson has made it clear that the government will not use taxpayer funds to recapitalise the Bank of Ghana (BoG), following reports that the previous Ernest Addison-led administration had signed an MoU for a ¢53 billion bailout.
Speaking in an interview after presenting the 2025 Budget to Parliament, Dr. Forson stressed that the BoG must resolve its financial challenges internally without burdening the public.
“With a ¢60 billion deficit, the Bank of Ghana’s balance sheet is in bad shape. But taxpayers cannot afford ¢53 billion to bail them out,” he stated.
He urged BoG to cut costs, reconsider major expenditures like its new headquarters, and even sell off non-essential assets such as guest houses to generate funds.
“BoG must look within. If they need to sell and lease back properties, so be it. The taxpayer cannot be a punching bag,” he emphasized.
Dr. Forson warned that diverting public funds to rescue BoG would mean sacrificing crucial infrastructure projects, including roads, schools, and hospitals.
He, however, signaled openness to a long-term solution, suggesting BoG reinvest its profits over the next decade to restore financial stability.
