The Deputy Governor of the Bank of Ghana (BoG), Matilda Asante-Asiedu, has stressed the importance of timely repatriation of export proceeds in strengthening the country’s foreign exchange reserves, sustaining economic growth and promoting financial stability.
She said bringing export earnings back into the country was critical to supporting the stability of the cedi and ensuring Ghana could meet its external financial obligations.
Mrs Asante-Asiedu made the remarks during the nationwide Letter of Commitment (LOC) Sensitisation Programme organised to engage stakeholders in the export sector on the need to comply with requirements governing the repatriation of export proceeds.
The programme brought together exporters, freight forwarders, banks and other stakeholders to discuss measures to ensure that earnings from exports are returned to Ghana within the required period.
According to the Deputy Governor, the timely return of export proceeds would help strengthen the country’s external reserves and improve its capacity to meet international payment obligations.
The initiative also seeks to deepen stakeholder awareness of their responsibilities under the relevant foreign exchange regulations and promote compliance across the export value chain.
The Bank of Ghana continues to engage businesses and financial institutions on measures aimed at improving foreign exchange inflows and supporting macroeconomic stability.
