President John Dramani Mahama has tasked the Ministers of Finance and Energy to closely monitor the ongoing hostilities between Israel and Iran, citing concerns over potential hikes in global crude oil prices and their impact on Ghana’s economy.
Speaking during his thank-you tour of the Savannah Region on Saturday, June 14, he highlighted the importance of proactive measures to protect Ghana’s recent economic progress from external shocks.
“Today, I wish to reaffirm that our commitment to the people of the Savannah Region will never shake. Despite the progress we’ve made in stabilising the economy, Ghana is not immune to the shocks of global events,” he said.
He noted that the escalating missile exchanges between Israel and Iran have already begun driving up global crude oil prices, a situation that poses a threat to Ghana’s fuel pricing and economic stability.
“I have instructed the Ministers of Finance and Energy to keep a close eye on the developments and model the possible impact on our petroleum prices. They must prepare appropriate measures to safeguard the gains we’ve made,” he added.