Johnson Asiama, Ghana’s central bank governor, said on Tuesday that the country has the capacity to withstand any anticipated shocks from the current Middle East crisis.
Asiama made the remarks while addressing the Ghana Association of Banks’ Industry Thought Leadership lecture series in Accra, the Ghanaian capital.
The governor said the Bank of Ghana is closely monitoring the situation and its potential impact on global energy markets, supply chains and investor sentiment.
According to him, amid any anticipated shocks, the central bank stands ready to take prudent and preemptive measures to preserve Ghana’s economic stability and protect the progress the country has made so far.
He assured Ghanaians and other stakeholders 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. We are also actively engaging our international partners to remain responsive to any external shocks,” Asiama noted.
Meanwhile, credit rating agency Fitch Ratings has upgraded Ghana’s long-term foreign-currency issuer default rating to “B-,” up from “restricted default,” with a stable outlook. Enditem
Source: Xinhua
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