Economic think tank Institute of Economic Research and Public Policy (IERPP) has called on the International Monetary Fund (IMF) to come clean on the Bank of Ghana’s 2025 losses.

The Bank of Ghana last week released its audited Financial Statements for 2025, and in it, the Central Bank registered a staggering loss of GHC 15.6 billion Cedis.

In a statement reacting to the loss, the IERPP raised questions over the IMF's oversight role and called on the IMF to come clean on the Bank of Ghana situation.

"Given that Ghana is currently under a programme with the International Monetary Fund (IMF), it is reasonable to expect some level of accountability from the Fund regarding developments at the Central Bank during this period. If such substantial losses have occurred under an IMF-supported programme, then clarity is required on the role, if any, of the IMF in these losses," the IERPP said.

"At the heart of the matter are critical questions that both the IMF and the Bank of Ghana must address," the economic think tank added, as it listed a number of concerns which it said both the IMF and the Bank of Ghana must address.

Among questions the IERPP raised are:

-Do IMF-supported programmes aimed at restoring macroeconomic stability typically result in significant central bank losses in other countries?

-If so, under what conditions do these losses occur?

-If not, what specific factors led to Ghana’s situation in 2025, particularly in a year without a major crisis such as the banking sector clean-up or the COVID-19 pandemic?

-What accountability mechanisms exist for central banks when policy decisions result in substantial financial losses?

"Ghanaians deserve clear, consistent, and honest answers. Without accountability, the very stability being defended risks becoming unsustainable," the IERPP added.