BoG Will Heed To Zero Financing Of Budget – Governor
The Apex Bank made this disclosure in an official statement audited by Deloitte.
Edem Latsu Nukafu eljourno 
The Apex Bank has pledged to adhere to the zero financing of the budget henceforth.
This development emerged amid the signing of a memorandum between the Central Bank and the Ministry of Finance in 2023.
However, it will proceed with policy measures aimed at optimising the Central Bank’s investment portfolio and operating cost mix to bolster efficiency and profitability.
This was captured in the 2024 financial statement audited by Deloitte as part of its policy solvency measures.
Due to the above, the Apex Bank disclosed that the Board is continuing to take actionable moves to ensure a recovery and build-back of a positive equity position within the medium to long term.
Further, the communique underscored the policy solvency outcome for 2024 is consistent with the view held in 2023 that the Bank will continue to operate efficiency and effectively on a going concern basis and achieve its policy mandate, despite the significant losses recorded at that time.
“From a macroeconomic perspective as macroeconomic conditions continue to improve and inflation declines toward the medium-term target, interest rates will also decline and as a result Cost of Open Market Operation will reduce”, the statement clarified.
It added that the drop in inflation will support exchange rate stabilisation.
