The Minority in Parliament, led by the New Patriotic Party (NPP), has voiced strong concerns over a persistent dollar shortage in Ghana’s banking system, accusing the government of mismanaging the foreign exchange (FX) market and exacerbating challenges for importers and businesses.
In a press briefing on July 28, 2025, the Minority criticized the lack of sustainable solutions in the mid-year budget review, casting doubt on Finance Minister Mohammed Amin Adam’s claim that the Ghanaian cedi is stabilizing.
“The shortage of dollars in the banks has become so pronounced that importers have gone public to express their frustration,” said Minority Spokesperson on Finance, Kwaku Kwarteng, echoing sentiments from the Ghana Union of Traders Association (GUTA).
He highlighted the growing disparity between interbank rates and forex bureau prices, which has fueled uncertainty and driven businesses to the black market, where premiums are significantly higher.
Posts on X, such as those from @LuvFM995 on July 23, 2025, quoted GUTA’s Ashanti Regional Chairman, Tony Oppong, stating the shortage began two months ago and may be artificially induced by the Bank of Ghana (BoG) to stabilize the cedi.
The Minority pointed to International Monetary Fund (IMF) disclosures revealing that the BoG injected over US$1.4 billion into the FX market in Q1 2025, surpassing its 2023 total, yet businesses continue to face delays and scarcity
“These interventions are ad hoc, opaque, and lack a rule-based framework,” Kwarteng stated, warning that the volatile market undermines private sector confidence.
