The Bank of Ghana has sought to reassure the country’s business community over concerns about access to foreign exchange, following growing complaints from traders and importers facing delays in securing hard currency from commercial banks.
In a meeting held with the Ghana Union of Traders’ Associations (GUTA), central bank officials affirmed that there is no shortage of foreign exchange in the system and urged calm among market participants.
“The Bank of Ghana has assured the business community that there is enough forex and that there is no need for alarm,” GUTA said in a statement following the meeting.
The Central Bank also pledged to engage directly with commercial banks to investigate the root cause of the reported access challenges and implement corrective measures where necessary.
The move comes amid increased pressure on traders navigating currency volatility and global supply chain disruptions, which have heightened the demand for timely access to foreign currency for international transactions.
GUTA President Dr. Joseph Obeng called on members to remain calm while authorities work toward resolving the issue. He urged traders experiencing ongoing difficulties to report them to the association for escalation.
“The Central Bank is working to resolve the issue, and we urge our members to stay calm. However, if the problem persists, we ask that it be reported to us,” Dr. Obeng said.
The assurance from the Bank of Ghana comes at a critical moment, as reliable access to forex is seen as essential for maintaining trade flows and stabilizing prices in a market increasingly exposed to external economic shocks.
