Haruna Iddrisu: NPP Focused on Bank of Ghana Losses, Ignoring Ghana’s Economic
Credit: citinewsroom
Education Minister Haruna Iddrisu has defended the Mahama administration’s handling of the economy, arguing that the opposition New Patriotic Party has failed to acknowledge signs of economic stability despite concerns over the Bank of Ghana’s financial losses.
Speaking during the commissioning of a PET Scan facility at the Swedish Ghana Medical Centre in Accra on Wednesday, Mr. Iddrisu said critics of President John Dramani Mahama have focused heavily on the Bank of Ghana’s reported GH¢15.6 billion loss while ignoring broader improvements in the economy.
“There is an ongoing debate now about the Bank of Ghana and the losses of the Bank of Ghana. The political opposition is at its best to find space to be critical of John Dramani Mahama,” he said.
According to him, the government’s economic stabilisation efforts should also be recognised in the national conversation.
“In all the debate that has gone on, including losses to the Bank of Ghana, I have not seen any of them argue that John Dramani Mahama has not stabilised the economy of Ghana,” he stated.
Mr. Iddrisu pointed to declining inflation, currency stability, and strong foreign reserves as indicators that the economy is improving under the current administration.
“There is stability in the economy, and therefore the loss of the Bank of Ghana at 15.6 billion is the aspiration of John Dramani Mahama that he will see through a Bank of Ghana that achieves stability without losses,” he said.
He added that although concerns about the central bank’s finances are legitimate, the opposition should admit that key economic indicators have improved.
“At least momentarily, the opposition must accept the fact that the currency is stable, foreign reserves are high, and inflation is low,” he stressed.
His comments come amid ongoing debate over the Bank of Ghana’s 2025 financial results, which showed a GH¢15.6 billion operating loss, marking the fourth consecutive year of losses by the central bank.
The Minority in Parliament has raised concerns over the Bank’s deepening negative equity position and accounting practices, but insists it is not celebrating the institution’s financial difficulties.
Member of Parliament for Tano North and Finance Committee member, Gideon Boako, recently said the concerns being raised are intended to protect economic stability rather than score political points.
