The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has defended the central bank’s recent foreign exchange directives, assuring the business community that the measures are designed to strengthen macro-economic stability while fostering a predictable and supportive environment for trade and investment.
Speaking during an engagement with the UK-Ghana Chamber of Commerce (UKGCC) at the Bank Square Press Room on Monday, February 23, 2026 Dr. Asiama described the Chamber as “a steady force” that has, for nearly a decade, supported businesses in both Ghana and the United Kingdom while serving as a strong bridge between the two economies.
“It is with deep sense of pleasure that I welcome the UK-Ghana Chamber of Commerce to the Bank Square today,” the Governor said, noting that the Chamber has contributed to strengthening commercial relations and investor confidence between the two countries.
The Governor emphasised that businesses are not passive recipients of monetary policy decisions but critical actors who help shape policy outcomes.
“Sound policy is most effective when it is well understood, responsive to market realities, and implemented in collaboration with key stakeholders,” he stated.
He explained that the meeting was convened to clarify the intent and application of guidelines issued under the Foreign Exchange Act, 2006 (Act 723) and to receive feedback from UKGCC members on potential challenges and opportunities.
According to him, the directives are intended “to streamline foreign exchange market operations, improve transparency and compliance, as well as reinforce macroeconomic stability.” However, he acknowledged that policy implementation must remain pragmatic and supportive of the business environment.
Highlighting what he described as tangible evidence of policy impact, the Governor disclosed that inflation had declined sharply from 23.8 percent in December 2024 to 3.8 percent in January 2026. “
The evidence of these policy impacts is palpable — real sector activities have rebounded, business and consumer confidence have improved considerably, and inflation has declined sharply,” he said.
Dr. Johnson Asiama added that financial conditions have eased significantly, consistent with the central bank’s policy stance, resulting in declining lending rates and a recovery in private sector credit.
He stressed that the foreign exchange directives form part of a broader policy framework aimed at deepening market discipline, ensuring efficient foreign exchange management, and creating a predictable environment for trade and investment.
The Governor assured stakeholders that the Bank of Ghana is determined to consolidate the gains achieved over the past year.
“We believe that a stable macroeconomic environment translates into a better business environment, greater consumer confidence, and improved trade and services,” he said.
He further pledged that the central bank would maintain a strict and disciplined monetary policy stance to reinforce inflation expectations, improve external buffers, and enhance financial sector resilience. Structural and regulatory reforms, he added, would also be sustained to guarantee long-term stability.
With over 230 member companies spanning diverse sectors, Dr Johnson Asiama described the UKGCC as a significant and influential segment of Ghana’s private sector and an important conduit for UK investment into the Ghanaian economy.
He reiterated the central bank’s openness to collaboration, stressing that sustained engagement, openness to feedback, and constructive criticism are essential to building a resilient and dynamic economy.
“The Bank of Ghana is open to working with UKGCC and the member companies to ensure that our policies are geared towards long-term stability, competitiveness and common prosperity,” he said.
Dr. Johnson Asiama concluded by expressing optimism about a productive dialogue, reaffirming the Bank’s commitment to transparency, stakeholder consultation, and policy clarity as Ghana works to entrench macroeconomic stability and restore investor confidence.
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