The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, had allayed fears concerning rising tensions in the Middle East and their projected impact on the Ghanaian economy.
According to him, the Central Bank is monitoring happenings on the global front to assess its impact on the Ghanaian economy.
He made the statement when he gave his remarks at the Ghana Association of Banks Industry Thought Leadership Event under the theme “Banking the Last Mile: An Industry-Led Strategy for Accelerating Digital Finance” on June 17, 2025.
“Let me briefly address a matter on the minds of many, the evolving
geopolitical tensions in the Middle East, particularly the Iran–Israel conflict.
“While the Bank of Ghana is closely monitoring the situation and its potential impact on global energy markets, supply chains, and investor sentiment, I wish to assure the public that Ghana’s macroeconomic buffers are stronger today than they have been in recent years. Our foreign reserve position, inflation trajectory, and fiscal adjustment efforts provide a solid cushion,” he said.
He also noted the bank is actively engaging its international partners to remain responsive to any external shocks.
“The Bank stands ready to take prudent and pre-emptive measures to preserve Ghana’s economic stability and protect the progress we have made,” he said.
Global tensions have led to a surge in oil prices on the global market.
However, President John Dramani Mahama has asked the finance and energy ministers to carefully monitor happenings on the global stage to avoid creating hardships for Ghanaians.
“Despite the work we have done in stabilising the economy, Ghana is not immune to the shocks of global events,” he said.
SSD/MA
