The National Democratic Congress (NDC) will hold a press conference today, Tuesday, August 8, on the Bank of Ghana’s (BoG) 2022 Annual Report and Financial Statements.
The Minority Leader and Ajumako Anyan-Essiam MP, Dr Cassiel Ato Forson, will address the press conference.
Dubbed Moment of Truth series, it will take place at 2:00 pm at the NDC headquarters in Accra.
BoG incurred a loss of GH¢55.12 billion in 2022, largely as a result of the government’s Domestic Exchange Programme (DDEP) after its non-marketable holdings of government of Ghana instruments including long-term stocks, a COVID-19 Bond and overdraft were subjected to a 50 per cent haircut.
The Central Bank’s other claims (holdings of marketable instruments) were exchanged under similar terms as other financial institutions under the DDEP, leading to an impairment of GH¢48.40 billion in 2022.
In addition, the Bank incurred revaluation losses on its foreign assets and liabilities due to exchange rate depreciation, leading to a total loss of GH¢55.12bn equity in 2022.
But the NDC has said there are more damning revelations in the central bank’s 2022 Annual Reports and Financial Statements that require public attention.
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