The Bank of Ghana (BoG) has confirmed the government’s support in its recapitalisation after the significant balance sheet strain it recorded during the Domestic Debt Exchange Programme (DDEP).

Finance Minister Dr. Cassiel Ato Forson, had in the past ruled out the use of taxpayer funds to recapitalise the Central Bank citing a previously signed a Memorandum of Understanding for a ¢53 billion recapitalisation package under the former Ernest Addison-led administration.

He had insisted that any recapitalisation of the Central Bank must be achieved through internal reforms and restructuring rather than direct budgetary support.

But speaking at the 128th Monetary Policy Committee (MPC) press briefing on Wednesday, January 28, 2026, Governor Dr. Johnson Asiama said engagements with the government on restoring the Bank’s financial position have been constructive, adding that recapitalisation remains a necessary next step toward policy credibility and operational independence.

“I believe in the commitment of government to recapitalise the Central Bank following the hit it took to protect the economy amid the domestic debt restructuring programme. So far, discussions with government have been fruitful, and there is support to help repair the Bank’s balance sheet”, Dr. Asiama said in response to a question asked by Citi Business News‘ Nii Larte Lartey.

He stressed that restoring the Bank of Ghana’s capital position will help in effectively delivering on its mandate of price stability, financial sector supervision and macroeconomic management.

“It is only fair that the wounds suffered as a result are addressed,” the Governor noted, adding that the recapitalisation process will safeguard the Central Bank’s ability to operate independently and maintain confidence in monetary policy.

Beyond the Central Bank, Dr. Asiama also reported strong progress in the recapitalisation of Ghana’s commercial banking sector, signalling improving resilience within the broader financial system.

He disclosed that as at the end of December 2025, 21 out of the 23 licensed banks had met the required capital adequacy thresholds. The remaining two banks have been granted a deadline of end-March 2026 to comply.

“We have two more banks that are yet to meet the requirement, but they have been given until the end of March 2026,” he said. “Overall, we have made significant progress on the recapitalisation strategy, and we are monitoring closely to ensure full compliance.”