The Scarcity of Dollars in The Banks is Frustrating Importers – Minority

Najat Adamu
2 Min Read

The minority in parliament has expressed concern about the negative effects that ongoing dollar shortages are having on Ghanaian companies and has accused the government of improperly handling the foreign exchange (FX) market.

During a July 29 press briefing, the group stated that the situation has left traders and importers stranded and questioned the Finance Minister’s assertion that the Ghanaian cedi is “picking up.”

The mid-year budget review did not offer long-term solutions to the deteriorating foreign exchange crisis, the Minority said.

The discrepancy between interbank rates and forex bureau prices has increased business community uncertainty, according to former Finance Minister Muhammad Amin Adam.
“The shortage of dollars in the banks has become so pronounced that importers have gone public to express their frustration.”

They also cited IMF reports that, in spite of official denials, the Bank of Ghana invested more than US$1.4 billion in the market in the first quarter of 2025.

The Minority cautioned that the market is still unstable and unpredictable for companies, claiming that “these interventions are ad hoc, opaque, and lack a rule-based framework.”

The NPP MPs maintained that the confidence of the private sector is being undermined by the government’s control over the foreign exchange market.

“From spare parts dealers to food importers, the business community is being suffocated by delays, scarcity, and unpredictable pricing,” the Minority mentioned.

For many small and medium-sized businesses (SMEs), they emphasized, planning has become nearly impossible due to the absence of a cohesive policy.

The Minority called for immediate reforms and suggested that a future NPP government strengthen domestic production, increase transparency in foreign exchange transactions, and lessen reliance on imports in order to prioritize foreign exchange stability.

“We cannot continue to watch Ghanaian businesses struggle while government pretends all is well. The people deserve better,” the minority concluded.

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