The Bank of Ghana (BoG) has assured traders and importers that there is no shortage of foreign exchange (forex) in the country despite recent concerns raised by members of the Ghana Union of Traders’ Association (GUTA).
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Traders have complained about difficulties accessing forex through commercial banks, a situation they say is hampering international trade and driving uncertainty in the market.
In response, the BoG held a meeting with the leadership of GUTA to address the issue.
Following the meeting, GUTA released a statement confirming the Central Bank’s reassurance that forex reserves are sufficient, urging the business community not to panic.
“The Bank of Ghana has assured the business community that there is enough forex and that there is no need for alarm,” GUTA stated.
The Central Bank also committed to engage commercial banks to identify and resolve the root causes of reported delays and access challenges.
GUTA President, Dr. Joseph Obeng, called for calm among members and encouraged those experiencing persistent challenges to report directly to the association for redress.
“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,” he said.
The assurance comes at a time when businesses are already under pressure from currency volatility and global supply chain disruptions, making consistent access to forex critical for maintaining operations and price stability in the local market.
