The Minority in Parliament has raised alarm over the adverse impact of persistent dollar shortages on Ghanaian businesses, accusing the government of mismanaging the foreign exchange (FX) market.
Addressing a press briefing, the group said the situation has left importers and traders stranded and cast doubt on the Finance Minister’s claim that the Ghanaian cedi is “picking up.”
According to the Minority, the mid-year budget review failed to offer sustainable solutions to the worsening FX crisis.
“The shortage of dollars in the banks has become so pronounced that importers have gone public to express their frustration,” they stated, adding that the growing disparity between interbank rates and forex bureau prices has deepened uncertainty in the business community.
They also cited IMF disclosures that the Bank of Ghana injected over US$1.4 billion into the market during the first quarter of 2025—contrary to official denials.
“These interventions are ad hoc, opaque, and lack a rule-based framework,” the Minority warned, arguing that the market remains volatile and unpredictable for businesses.
The MPs insisted that the government’s management of the FX market is undermining private sector confidence.
“From spare parts dealers to food importers, the business community is being suffocated by delays, scarcity, and unpredictable pricing,” they added.
They stressed that the absence of a coherent policy has made planning nearly impossible for many small and medium-sized enterprises (SMEs).
Calling for urgent reforms, the Minority proposed that a future NPP government would prioritise FX stability by boosting domestic production, enhancing transparency in FX transactions, and reducing dependency on imports.
“We cannot continue to watch Ghanaian businesses struggle while government pretends all is well. The people deserve better,” the statement concluded.
Source: Ernest K. Arhinful
