Finance Minister Ken Ofori-Atta has confirmed reports that the Central Bank registered a loss of GH¢60.8 billion in its audited financial statement for the fiscal year 2022.

However, the Finance Minister noted that the loss recorded is technical, as "it is not monies that was given that will never be paid.”

Mr Ofori-Atta made this known during an appearance on GBC's Talking Point programme over the weekend.

He further explained that these losses were accrued after the Central Bank failed to balance its assets, liabilities, and shareholders' equity. According to the Finance Minister, some revenue as interest that should have been generated by the Central Bank could not come through.

“The issue of debt exchange, in which certain interest was expected to be paid had been cut, resulting in those type of losses. Then you’ll have to impair the balance sheet because of expected revenue that was coming will not come. So that is what is happening”, he further explained.

The BoG attributes this substantial loss primarily to the government's actions in debt restructuring.

Meanwhile, the Finance Minister, has expressed confidence in BoG’s ability to reclaim all its losses.

“As I told you, the impairment on the banks was also quite dramatic. The first half year, we have seen a strong response from them. It’s the same way in which the balance sheet of restructuring is also occurring at the Central Bank and will build up towards reclaiming where we should be”, he concluded.