The Bank of Ghana (BoG) has recorded an Operating Loss of GH¢9.49 billion in 2024, compared to an Operating Loss of GH¢13.23 billion (restated) in 2023.  However, the bank in a statement noted that this represents a Net Gain of GH¢4 billion compared to its 2023 financials, which recorded a loss of GH¢9.19 billion.

Reasons The GH¢9.49 billion Operating Loss in 2024 is the result of total operating income of GH¢9.40 billion, falling short of total operating expenses of GH¢18.89 billion.

Key drivers of Operating Loss The financial statement released by the Bank of Ghana said  these are the drivers for the operating loss posted in 2024. • Cost of Open Market Operations, GH¢8.60 billion. • Revaluation and exchange differences (losses) totaling GH¢3.49 billion.

Notably, exchange losses of GH¢1.82 billion on the Government's Gold for-Oil Programme. • Currency issue expenses, of GH¢1.01 billion for 2024, from GH¢0.69 billion in 2023. • Modification to the choice of accounting treatment of foreign exchange gains and losses resulting from revaluation of the Bank's assets and liabilities in gold, special drawing rights and foreign securities.