BoG assures Ghanaians of economic stability amid Middle East conflict
By Ernest Afram
The Bank of Ghana has assured Ghanaians that the country’s economy remains resilient despite rising geopolitical tensions in the Middle East, particularly the ongoing conflict between Iran and Israel.
Speaking at the “Banking the Last Mile” event held in Accra, Governor Dr. Johnson Asiama emphasized that the central bank is closely monitoring developments and working with international partners to mitigate any potential impact on Ghana’s financial system.
“We are fully aware of 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,” Dr. Asiama said.
He pointed to the country’s current economic indicators as a source of confidence. “Our foreign reserve position, inflation trajectory, and fiscal adjustment efforts provide a solid cushion against this,” he added.
The Governor further noted that the central bank is not acting alone, explaining that it is in continuous engagement with international partners to stay responsive and agile in the face of external shocks. “The Bank stands ready to take prudent and preemptive measures to preserve Ghana’s economic stability and protect the progress we have made so far,” he said.
Dr. Asiama also used the platform to rally financial sector stakeholders to continue their efforts in extending banking services to underserved areas. “Let us bank the last mile, and let us do this together,” he concluded.
