Samson Asaki Awingobit is the Executive Secretary of the IEAG
The Importers and Exporters Association of Ghana (IEAG) has publicly defended the Bank of Ghana (BoG), asserting that recent criticisms of the central bank’s operations lack technical context.
This comes amid accusations of mismanagement and losses accrued by the BoG in 2025.
However, according to a report by citinewsroom.com, the association credited the BoG’s disciplined monetary policy for the cedi’s strong recovery and improved trade conditions throughout 2025.
Speaking at a New Year engagement in Accra, IEAG Executive Secretary, Samson Asaki Awingobit, addressed what he described as ‘false reportage’ surrounding the central bank.
“While robust public discourse is vital, we believe some negative reportage has lacked context and technical nuance, ultimately clouding public appreciation of the BoG’s strategic contributions to economic stability and the cedi’s performance,” Awingobit stated.
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He highlighted a significant currency turnaround, noting that by mid-2025, the cedi had “strengthened by over 40% against the US dollar.”
This appreciation, he said, provided direct relief to businesses by “significantly easing the cost of imports and reducing exchange-rate-induced cost pressures on traders.”
The association linked this performance to improved macroeconomic fundamentals, which led to gross international reserves rising to over $11 billion and an estimated 60% growth in export earnings in the first part of 2025.
“These outcomes demonstrate that Ghana’s macroeconomic groundwork, anchored by robust monetary policy, has restored confidence and enhanced stability in foreign exchange markets,” the IEAG Executive Secretary said.
The IEAG, thus, expressed optimism for 2026 and called for continued prudential monetary policy and closer engagement between policymakers and the private sector to sustain confidence and expand trade.
The IEAG also appealed to the media for balanced reporting.
“Your continued support in accurate, contextual reporting is invaluable to building Ghana’s economic narrative,” Awingobit concluded, the report stated.
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