The release of the Bank of Ghana’s financial statements on May 1, 2026, has sparked interesting debate, particularly regarding the GH¢15.6 billion operating loss reported by the central bank. However, a careful review of the figures shows that the reported loss can indeed be described as the actual figure.

On page 15, the Consolidated and Separate Statements of Profit or Loss for the year ended December 31, 2025, clearly stated the operating loss of GH¢15.6 billion, with the proviso that "the notes on pages 24 to 132 form an integral part of these financial statements".

On page 16, the Consolidated and Separate Statements of Other Comprehensive Income for the year ended December 31, 2025, also disclosed the Other Comprehensive Income figure and the Total Comprehensive Income figure.

Again, in an official Questions and Answers document issued by the bank on its financial statements, the first question referenced both the operating loss and the OCI loss.

Under International Financial Reporting Standards, a "loss" extends beyond day-to-day operations. It includes comprehensive income, capturing exchange rate movements, bond revaluations, and wider economic shocks.

In simple terms, operating performance reflects how the bank is managing its core activities, while comprehensive income reflects the broader impact of economic conditions on its balance sheet. Not all losses are created equal.

Some reflect operational performance, while others reflect prevailing economic conditions. Yes, part of the loss is operational, but a significant portion is non-cash and driven by the appreciation of the cedi by more than 40 per cent during the review year.

Verdict: The claim that the Bank of Ghana reported a lower loss figure to hide losses is FALSE.