In opening remarks to an engagement with the UK-Ghana Chamber of Commerce, Bank of Ghana Governor Dr. Johnson Pandit Asiama focused on the central bank’s foreign exchange guidelines and directives issued under the Foreign Exchange Act, 2006 (Act 723), framing them as measures to streamline foreign exchange market operations, improve transparency and compliance, and reinforce macroeconomic stability. The session was positioned as a forum to clarify the intent and application of the directives, gather feedback on anticipated challenges and opportunities for affected businesses, and explore areas of collaboration to support smooth implementation. Asiama linked the foreign exchange directives to a broader policy framework that includes a tight monetary policy stance and prudent fiscal management, citing outcomes such as inflation falling from 23.8% in December 2024 to 3.8% in January 2026, alongside easing financial conditions reflected in declining lending rates and a recovery in private sector credit.
Bank of Ghana 2026-02-23
Bank of Ghana sets out expectations for foreign exchange directives in engagement with the UK-Ghana Chamber of Commerce
Bank of Ghana Governor Dr. Johnson Pandit Asiama highlighted foreign exchange guidelines under the Foreign Exchange Act, 2006, aimed at streamlining market operations and enhancing transparency. The engagement with the UK-Ghana Chamber of Commerce clarified these directives and gathered feedback. Asiama linked the directives to broader policies, noting inflation reduction from 23.8% in December 2024 to 3.8% in January 2026 and improved financial conditions.