The Importers and Exporters Association of Ghana (IEAG) has praised the Bank of Ghana (BoG) for what it describes as effective economic management in 2025, highlighting gains in currency stability, reduced import-related costs and improved port operations.
The Executive Secretary of the Association, Mr Samson Asaki Awingobit, said the strengthening of the cedi over the year had brought notable relief to businesses engaged in international trade, especially during the 2025 festive season.
Speaking at a media engagement and in a New Year message, Mr Awingobit explained that although the cedi experienced depreciation in the early part of 2025, it rebounded strongly by mid-year, appreciating by over 40 percent against the US dollar.
He said the turnaround eased exchange rate pressures on traders and helped lower the cost of imported goods.
He attributed the currency’s recovery to disciplined monetary policy measures, improved foreign exchange reserves and a rebound in export earnings.
According to him, Ghana’s gross international reserves exceeded US$11 billion by mid-2025, equivalent to almost five months of import cover.
Mr Awingobit noted that export earnings were estimated to have increased by about 60 percent in the first half of the year, supporting trade surpluses and strengthening the country’s external position.
Touching on public debate over reported losses at the Bank of Ghana and the Gold Board, he cautioned that some assessments lacked adequate context and technical understanding.
He stressed that broader macroeconomic indicators pointed to improved confidence and greater stability in the foreign exchange market.
The IEAG Executive Secretary said the stronger cedi had directly translated into lower import clearance costs, reduced foreign exchange components of duties and freight charges, and improved liquidity for traders.
These developments, he added, had boosted efficiency and throughput at the country’s ports.
Looking ahead to 2026, Mr Awingobit expressed confidence that continued prudent monetary management, stronger regulatory frameworks and closer engagement with the private sector would help sustain currency stability and enhance export competitiveness.
