Ato Forson bemoans GHC4.5b cost of new Bank of Ghana headquarters

Finance Minister Cassiel Ato Forson has emphasized the need for a value-for-money audit on the Bank of Ghana’s new headquarters, criticizing its construction amid financial difficulties.

He argued that the project, costing over $300 million (GHC4.5 billion), was imprudent and called for an audit as a necessary step.

Forson also suggested a sale-leaseback arrangement to help the bank raise GHC53 billion for recapitalization, stating that the central bank must cut expenditures before seeking taxpayer support.

Despite concerns over its financial state, he expressed confidence in the bank’s ability to recover, noting that it remains policy-solvent and capable of generating resources for monetary policy operations. He stressed that improving the bank’s balance sheet over time would be key to its stability.