Gov’t issues GH¢5.5bn bond to recapitalise Bank of Ghana, restore financial strength
The government has issued a GH¢5.5 billion recapitalisation bond to the Bank of Ghana (BoG) as part of efforts to rebuild the central bank’s equity position and strengthen the stability of Ghana’s financial sector.
Finance Minister Dr. Cassiel Ato Forson disclosed this during the presentation of the 2026 Mid-Year Budget Review in Parliament, explaining that the move was necessary following the impact of the 2023 Domestic Debt Exchange Programme (DDEP) on the Bank of Ghana’s balance sheet.
He said the DDEP significantly affected the central bank’s capital position, leaving it with a negative net equity position.
“To restore the Bank of Ghana’s financial strength, the government and the Bank of Ghana signed a Memorandum of Understanding on 6 January 2025 to recapitalise the bank over time,” Dr. Forson stated.
According to the Finance Minister, government honoured its commitment under the agreement by issuing the recapitalisation bond in March 2026 to improve the BoG’s capital base and support its financial recovery.
Dr. Forson further indicated that government will continue to make annual provisions towards the recapitalisation of the central bank until its equity position is fully restored, in line with the Bank of Ghana Amendment Act, 2025 (Act 1158).
Meanwhile, he said the Bank of Ghana will undertake a comprehensive operational efficiency review to reduce costs, improve financial management practices and enhance its long-term sustainability as the government works to rebuild its financial position.
