Accra: 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, expressed that the relative stability of the foreign exchange market has instilled greater confidence in importers and exporters to plan and execute their international transactions.
According to Ghana Web, Awingobit highlighted at a press conference on Sunday, August 30, 2026, that GoldBod's trading policies have significantly contributed to strengthening Ghana's foreign exchange position and enhancing access to foreign exchange for legitimate business activities. He also acknowledged the Bank of Ghana's initiatives aimed at maintaining macroeconomic and financial stability, particularly applauding the reduction in interest rates.
He emphasized that lower interest rates are beneficial for businesses relying on credit to finance their operations. Citing the Bank of Ghana's Financial Stability Review, Awingobit noted that the average lending rate had declined from 30.3 percent in December 2024 to 20.5 percent in December 2025.
Awingobit also mentioned that further reductions in the cost of credit would be advantageous for importers and exporters who need working capital to purchase goods and fulfill their international trade obligations. He urged GoldBod and the Bank of Ghana to continue implementing measures aimed at maintaining foreign exchange stability and reducing borrowing costs.
He underscored the importance of these measures, especially ahead of the Yuletide season, when there is typically an increase in demand for foreign exchange, credit, and imported goods.