Gov’t won’t use taxpayer funds to bailout BoG – Ato Forson

Finance Minister Dr. Cassiel Ato Forson has ruled out using taxpayer funds to recapitalize the Bank of Ghana (BoG), rejecting a ¢53 billion bailout agreement signed under the previous administration.

Speaking after presenting the 2025 Budget, he emphasized that BoG must find internal solutions, including cost-cutting and asset restructuring, rather than burdening taxpayers.

Dr. Forson suggested measures such as selling non-essential assets, including BoG’s new head office and guest houses, to generate revenue. He warned that allocating public funds to BoG would mean sacrificing essential services like roads, schools, and hospitals.

While shutting down immediate government intervention, he indicated that BoG could consider retaining its profits over the next decade to rebuild its financial standing, urging the institution to present a sustainable recovery plan.