Importers, Exporters Seek Bank of Ghana’s Intervention on Business Concerns
The Importers and Exporters Association of Ghana (IEAG) has appealed to the Bank of Ghana (BoG) for targeted interventions to address persistent challenges facing traders and the wider business community, even as the central bank’s policies continue to stabilize the cedi and improve the macroeconomic outlook.
A delegation led by the Association’s Executive Secretary, Mr. Samson Awingobit Asaki, paid a courtesy call on Governor Dr. Johnson Pandit Asiama at the Bank Square this week. The team was received on behalf of the Governor by the Second Deputy Governor, Mrs. Matilda Asante-Asiedu.
Commendation and Call for Support
Mr. Awingobit commended the BoG for its firm monetary policy stance under Dr. Asiama’s leadership, which has helped stabilize the cedi and restore some business confidence after a turbulent period of depreciation and inflationary pressures.
However, he stressed that importers and exporters continue to grapple with bottlenecks that require the Bank’s direct intervention. Among them are exchange rate volatility, access to affordable credit, delays in foreign exchange allocation, and high transaction costs in cross-border trade.
“The Bank’s policies have given the cedi some stability, and that has eased pressure on traders. But structural constraints remain, and we believe the Bank of Ghana has a critical role to play in resolving them,” Mr. Awingobit said.
The Stakes for Businesses
According to the IEAG, exchange rate uncertainty and limited access to forex continue to inflate the cost of goods, erode margins, and fuel inflation. Exporters, on the other hand, face difficulties repatriating earnings in a timely manner, which affects their cash flow and investment capacity.
The Association noted that without stronger support from the BoG, these challenges could weaken Ghana’s competitiveness in regional and international markets. “A more predictable and accessible forex regime is essential if importers and exporters are to plan effectively and contribute to economic growth,” the group emphasized.
Central Bank’s Assurance
Responding to the delegation, Governor Asiama assured the IEAG that the Bank of Ghana remains committed to supporting the business community. “Our objective is to maintain stability, but also to ensure that policies are responsive to the needs of the real sector. We will continue to engage stakeholders to fine-tune our interventions,” he said.
