The Minority in Parliament has raised concerns over the Bank of Ghana (Amendment) Bill, 2025, which proposes significant changes to the governance structure of the Central Bank.
The bill seeks to extend the tenure of members of the Bank of Ghana’s Governing Board from four to five years and remove Members of Parliament from the Management Board. It also mandates the Central Bank to set the medium-term inflation target jointly with the government.
Contributing to the debate on the floor of Parliament, Minority Leader Alexander Afenyo-Markin and the Member of Parliament for Nhyiaeso, Dr. Stephen Amoah, cautioned that the proposed amendments could undermine transparency and accountability at the Bank of Ghana.
They argued that the changes would weaken parliamentary oversight while concentrating excessive influence in the hands of the Executive.
Responding to the concerns, the Minister for Finance, Dr. Cassiel Ato Forson, said the bill is aimed at strengthening monetary discipline and tackling persistent inflation.
He explained that high inflation is often driven by excessive money creation to finance government operations, and that the proposed amendments would help curb such practices.
