IEAG commend GoldBod and BoG for stabilising forex market

The Importers and Exporters Association of Ghana (IEAG) has commended the Ghana Gold Board (GoldBod) and the Bank of Ghana (BoG) for their efforts to improve the country’s foreign exchange position and economic stability.

Executive Director of IEAG, Samson Asaki Awingobit, said the relative stability of the foreign exchange market had given importers and exporters greater confidence to plan and execute their international transactions.

Speaking at a press conference on Sunday, August 30, 2026, Awingobit said GoldBod’s trading policies had contributed to strengthening Ghana’s foreign exchange position and improving access to foreign exchange for legitimate business activities.

He also praised the Bank of Ghana for measures aimed at maintaining macroeconomic and financial stability, particularly the reduction in interest rates.

According to him, lower interest rates were encouraging for businesses that rely on credit to finance their operations.

“Bank of Ghana’s Financial Stability Review indicated that the average lending rate declined from 30.3 percent in December 2024 to 20.5 percent in December 2025,” he said.

Awingobit said further reductions in the cost of credit would provide relief to importers and exporters who need working capital to purchase goods and meet their international trade obligations.

He, however, urged GoldBod and the Bank of Ghana to sustain measures aimed at maintaining foreign exchange stability and reducing the cost of borrowing.

He said such measures would be particularly important ahead of the Yuletide season, when demand for foreign exchange, credit and imported goods is expected to increase.

ANAS/MA

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