BoG, ECG, and COCOBOD in massive financial distress – Ato Forson

Finance Minister Dr. Cassiel Ato Forson has revealed that the BoG holds a negative equity of GHS55 billion, a financial challenge inherited from the previous administration. He emphasized the need for government intervention to stabilize the central bank’s financial position.

Speaking on Channel One TV’s "The Point of View", Dr. Forson also highlighted massive debts owed by key state entities:

• Road Fund - GHS5.5 billion
• COCOBOD - GHS32 billion
• Electricity Company of Ghana (ECG) - GHS68 billion, plus $1.73 billion owed to Independent Power Producers (IPPs)

He noted that ECG’s poor revenue collection worsens its financial struggles, preventing payments to suppliers and IPPs and further straining Ghana’s energy sector.