According to the Executive Secretary of the Importers and Exporters Association of Ghana (IEAG), Mr. Samson Asaki Awingobit, the Association recognizes the Bank of Ghana’s (BoG’s) policy choices for achieving a strong Cedi.
He reflected that the BoG’s policy discipline, prudence, and timely intervention in the market have stabilized the Ghanaian Cedi, rippling effect across other economic factors to achieve the current growth and stability.
“The observable appreciation of the cedi is not accidental but reflects disciplined monetary policy, improved market confidence, and heightened foreign exchange market activity that supported stronger market fundamentals.”
Mr. Samson Asaki Awingobit
The Cedi’s Remarkable Appreciation
2025, in all standards, will be remembered for the Ghanaian currency’s momentous turnaround following one of the country’s worst macroeconomic performances, including the depreciation of the Cedi. However, Mr. Awingobit and the IEAG applauded the coordinated policy interventions from the Bank of Ghana to strengthen the Cedi and improve market confidence.
He further declared that the impact of the Cedi’s appreciation on all sectors of the economy is massive and significant, especially on the importers and exporters. Not only has the Ghanaian Cedi appreciated, but the exchange rate has been fairly stable and has eased the cost of imports.
He insisted that the appreciated and stable Cedi provided direct relief for manufacturers that depend on imported foreign inputs to complement their production process. The stability has created a conducive business environment where business plans and schedules can be made without fear of excessive loss.
“By mid-2025, the Cedi had strengthened by over 40 per cent against the US dollar, significantly easing the cost of imports and reducing exchange-rate induced cost pressures on traders.”
Mr. Samson Asaki Awingobit
Rising Buffers and Export Revenues
The IEAG again recognized the impact of the robust Cedi performance on the Bank of Ghana’s growing international reserves. According to Mr. Awingobit, as of the first half of 2025, Ghana’s gross international reserves have risen to over US$ 11 billion, providing over 4 months’ import cover.
There has also been a rebound in Ghana’s export earnings of the country, he further claimed. He insisted that the several significant outcomes from the appreciated Cedi show the Bank of Ghana’s solid foundational work that has enabled the economy to achieve inclusive growth.
“These outcomes demonstrate that Ghana’s macroeconomic groundwork, anchored by robust monetary policy, has restored confidence and enhanced stability in foreign exchange markets.”
Mr. Samson Asaki Awingobit
He noted that Ghana’s robust export performance in 2025, a noteworthy trade surplus, and an estimated 60 percent export revenues in the first half of 2025 eased Cedi pressure and the cost of doing business.
He added that “while no institution operates without challenges, the technical, statistical, and observable outcomes speak to a central bank that has been purposeful in supporting macro-economic resilience, trade continuity, and currency stability.”
Poised for Economic Take-off this year
The Association is confident in the ability of the economy to take off from the foundation built in 2025. The economic outlook for 2026 is hopeful and buoyant, said Mr Awingobit.
He urged the Bank of Ghana to remain consistent in its prudential monetary policy and its complementary engagement with the fiscal side (the government) and the private sector to further propel the economy, expand trade volumes, and boost confidence in the economy.
IEAG appealed to all Ghanaians to be seasoned in commenting on economic issues. The association calls for constructive dialogue with the intent to build the economy and not to destroy it.
“While robust public discourse is vital in a democratic society, we at IEAG believe that some negative reportage has lacked context and technical nuance, ultimately clouding public appreciation of the BoG’s strategic contributions to economic stability, growth, and the Cedi’s performance,” he boldly declared.
He, therefore, urged that the public focus on the good work the Bank of Ghana is doing and not on destructive comments.
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