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By: Samuel Asamoah
The Importers and Exporters Association of Ghana (IEAG) has mounted a strong defence of the Bank of Ghana’s monetary operations, crediting the central bank’s policy interventions for a sharp recovery of the cedi in 2025 and a reduction in import-related costs at the nation’s ports.
Addressing journalists at a media get-together and New Year briefing in Accra, the Executive Secretary of IEAG, Mr. Samson Asaki Awingobit, said public discourse around alleged losses by the Bank of Ghana (BoG) and the Gold Board had often lacked technical context and failed to reflect the broader macroeconomic outcomes achieved during the year.
According to the Association, Ghana’s currency recorded a significant turnaround in 2025 after early-year depreciation, appreciating by more than 40 per cent against the US dollar by mid-year. Mr. Awingobit said the development eased exchange-rate pressures on importers and reduced the overall cost of trade.
“The appreciation of the cedi translated into tangible relief for importers, particularly those reliant on foreign inputs and finished goods,” he said, adding that improved currency performance positively impacted port business and trader liquidity.
IEAG attributed the cedi’s recovery to strengthened foreign exchange reserves, which it said exceeded US$11 billion by mid-2025—equivalent to nearly five months of import cover—as well as a resurgence in export earnings. Export receipts, the Association noted, grew by an estimated 60 per cent in the early part of 2025, contributing to trade surpluses and easing pressure on the local currency.
From the perspective of traders and port users, the Association said macroeconomic stability delivered measurable benefits, particularly during the 2025 yuletide season. Import clearance costs were lower than in previous years, largely due to favourable exchange rates that reduced the cedi value of duties, freight charges and other port-related costs.
Improved currency conditions also enhanced trader liquidity, Mr. Awingobit noted, as reduced dollar-denominated working capital requirements boosted throughput and operational efficiency at the ports.
While acknowledging the importance of scrutiny in a democratic system, IEAG urged the media to adopt more balanced and informed reporting on monetary and foreign exchange issues. The Association stressed that central bank interventions should be assessed not only through accounting outcomes but also by their impact on stability, trade continuity and business confidence.
IEAG formally commended the Bank of Ghana for what it described as steady stewardship in 2025 and expressed optimism for 2026, projecting sustained currency stability, deeper private sector confidence and increased trade volumes if prudent monetary policies continue.
Looking ahead, the Association said strengthened regulatory coordination and consistent engagement with industry players would further enhance Ghana’s competitiveness as a regional import and export hub.
Mr. Awingobit concluded by calling on the media to provide contextual economic reporting that reflects both challenges and gains, noting that currency stability and the performance of key economic institutions remain central to trade, investment and growth in Ghana.
