ACCRA – The Bank of Ghana (BoG) has sought to alleviate anxieties within the business community, assuring the Ghana Union of Traders’ Association (GUTA) that there is ample foreign exchange (forex) available in the country. This assurance comes in response to growing complaints from traders and importers regarding difficulties in obtaining forex from commercial banks, which they claim is hindering their international transactions.
Following these concerns, the Central Bank held a meeting with GUTA’s leadership. According to a statement released by GUTA, the BoG confirmed the adequacy of forex within the system and advised the business community against panic. The Central Bank also committed to engaging commercial banks to identify the underlying reasons for reported delays or access challenges and to implement necessary corrective measures.
Dr. Joseph Obeng, President of GUTA, urged members of the business community to remain calm while the Central Bank addresses the situation. He also encouraged traders to report any ongoing difficulties in accessing forex to the association for further intervention. The BoG’s assurance is particularly timely as traders navigate pressures from currency fluctuations and supply chain disruptions, making consistent access to forex vital for business operations and market price stability.
Culled from CNR
