No shortage of forex – BoG assures traders
The Bank of Ghana (BoG) has moved to allay fears within the business community, assuring the Ghana Union of Traders’ Association (GUTA) that there is no shortage of foreign exchange (forex) in the country.
This reassurance follows growing complaints from traders and importers over difficulties in accessing forex through commercial banks, challenges they say are hindering their ability to conduct international transactions.
In response to these concerns, the Central Bank held a meeting with GUTA’s leadership to provide clarity and offer assurances.
In a statement issued after the meeting, GUTA disclosed that the Bank of Ghana confirmed there is sufficient forex in the system and urged businesses 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,” the statement said.
The Central Bank further indicated that it would engage commercial banks to investigate the root cause of the reported delays and take appropriate steps to resolve any access issues.
Following the engagement, GUTA President Dr. Joseph Obeng urged traders and importers to remain calm as the Bank works to address the situation. He also encouraged members to report any ongoing challenges to the association for further action.
“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 stated.
