No dollar shortage – BoG to traders

The Bank of Ghana has reassured the business community, particularly the Ghana Union of Traders’ Association (GUTA), that there is no shortage of foreign exchange in the country despite rising concerns among traders and importers.

This follows widespread complaints from businesses struggling to access forex from commercial banks, challenges that are reportedly affecting international transactions and trade operations.

In response, the Central Bank held a meeting with GUTA’s leadership to directly address the issue.

According to a statement from GUTA, the Bank of Ghana confirmed that the forex market remains adequately supplied and urged traders not to panic.

“The Bank of Ghana has assured the business community that there is enough forex in the system and that there is no cause for alarm,” the statement said.

The Central Bank also committed to engaging commercial banks to investigate the cause of the reported delays and take appropriate corrective measures.

Following the meeting, GUTA President Dr. Joseph Obeng urged members of the trading community to stay calm and cooperate while the issue is addressed.

He encouraged traders facing persistent challenges in accessing forex to report their experiences to GUTA for further action.

“The Central Bank is working to resolve the issue, and we ask our members to remain calm. But if the problem continues, it should be reported to the association,” Dr. Obeng stated.