The Importers and Exporters Association is urging the government to implement a unified export rate policy to enhance the competitiveness of Ghanaian businesses in the global market.
They argue that the current system of multiple exchange rates is creating instability and making it difficult for exporters to operate efficiently.
According to the Association, a unified rate would streamline the process, reduce transaction costs, and create a more predictable environment for exporters.
The Association highlights the difficulties importers and exporters face in accessing foreign exchange, particularly US dollars, British pounds, and euros.
The current system, which involves navigating commercial banks and dealing with volatile black-market rates, is described as “frustrating and economically crippling”.
The Association is advocating for a single, transparent, and business-friendly foreign exchange rate system.
They believe that a unified rate, enforced by the Bank of Ghana, would eliminate the inconsistencies and complexities of the current system.
