Importers are struggling without dollars – Minority

The Minority in Parliament has raised concerns about the ongoing shortage of dollars in Ghana’s banking system, saying it is putting unbearable pressure on importers and traders.

At a press briefing on July 29, the group said the situation is hurting businesses and undermining public trust in government claims about economic recovery.

According to the Minority, many business owners are unable to access the dollars they need to keep operations running. This has caused delays, rising costs, and increased uncertainty across several sectors.

Former Finance Minister Mohammed Amin Adam spoke on behalf of the group, saying, “The shortage of dollars in the banks has become so pronounced that importers have gone public to express their frustration.”

The group criticised the Finance Minister’s claim that the cedi is gaining strength, pointing instead to a growing gap between interbank exchange rates and those at forex bureaus.

They also referenced IMF disclosures showing that over US$1.4 billion was injected into the market in the first quarter of 2025, despite official denials.

The Minority argued that these interventions lack transparency and a clear framework. They warned that the situation is damaging private sector confidence, especially among small and medium-sized enterprises that rely on consistent access to foreign exchange.

They called for stronger policies focused on long-term stability, such as increasing local production and reducing reliance on imports.

“From spare parts dealers to food suppliers, everyone is feeling the pinch,” one MP said. “The current approach just isn’t working.”