Importers and Exporters credit Bank of Ghana for Cedi recovery, lower trade costs

The Importers and Exporters Association of Ghana (IEAG) has commended the Bank of Ghana (BoG) for its role in the recent recovery of the Cedi, citing lower trade costs as a significant benefit.

The association attributes the Cedi’s strength to improved foreign exchange buffers and a rebound in export earnings, with gross international reserves rising to over $11 billion, providing nearly five months of import cover.

According to IEAG Executive Secretary, Mr. Samson Asaki Awingobit, the Cedi’s appreciation by over 40% against the US dollar by mid-2025 has eased import costs and reduced exchange rate induced cost pressures on traders.

He said the stronger Cedi has brought direct relief to importers who depend on foreign inputs and finished goods for domestic distribution and manufacturing.

BoG’s interventions, including the injection of up to $1 billion into the foreign exchange market in January 2026 under its Foreign Exchange Intermediation Programme according to IEAG, have contributed to the Cedi’s stability.