The Importers and Exporters Association of Ghana (IEAG) has lauded the Ghana Gold Board (GoldBod) and the Bank of Ghana (BoG) for their significant roles in stabilising the country’s foreign exchange market and promoting economic resilience.
At a press conference, IEAG Executive Director Samson Asaki Awingobit highlighted the benefits that a steady foreign exchange environment brings to Ghana’s business community. He explained that the recent stability in the forex market had made it easier for importers and exporters to plan ahead, manage risks, and engage in international trade with greater certainty.
Awingobit credited GoldBod’s trading policies for bolstering Ghana’s foreign exchange reserves and improving legitimate businesses’ access to hard currency. He also praised the Bank of Ghana for its commitment to macroeconomic and financial stability, singling out the recent reduction in interest rates as a welcome relief for businesses that rely on credit to fund their operations.
Quoting the Bank of Ghana’s Financial Stability Review, Awingobit noted that the average lending rate fell from 30.3 percent in December 2024 to 20.5 percent by the end of 2025, a development he described as a “major boost” for importers and exporters in need of working capital.
He urged both GoldBod and the BoG to maintain and expand their efforts to sustain foreign exchange stability and lower borrowing costs, particularly as the festive season approaches, a time when demand for foreign currency, credit, and imported goods typically rises.
The IEAG emphasised that ongoing monetary and regulatory support would be critical in helping businesses navigate seasonal trade pressures and foster long-term economic growth.
Source: Apexnewsgh.com