The Minority in Parliament has raised concerns about the cost and impact of the Bank of Ghana’s liquidity management operations, arguing that the measures have not translated into adequate access to credit for businesses.
The concerns were outlined by the Ranking Member on Parliament’s Finance Committee, Dr Mohammed Amin Adam, who addressed the media on behalf of the Minority on Tuesday, November 10.
He cited figures from the Bank of Ghana’s 2025 accounts, which he said showed that the central bank had locked away GH¢93.56 billion from circulation as part of efforts to manage demand in the economy.
Dr Amin Adam also said the Bank spent GH¢16.73 billion in 2025 paying banks to hold cedis outside the wider economy, raising questions about the financial implications of the monetary policy approach.
The Minority argues that falling interest rates will have limited benefits if traders, farmers and small manufacturers remain unable to secure affordable loans.
It cited private sector credit of less than 8 per cent of Ghana’s economy, compared with approximately 32 per cent in Kenya and 36 per cent across sub-Saharan Africa.
“Cheaper credit that does not reach people is a figure on paper,” Dr Amin Adam said, adding that banks lend only about 36 pesewas of every cedi deposited with them.
The Caucus is demanding that government publish the full cost of the Bank of Ghana’s liquidity operations and provide a credible plan to improve lending to productive businesses.