Global Wars, Local Consequences: Ghana Must Prepare for Economic Shockwaves

25/03/2026
By Boakye Stephen, Kumasi, Ghana | Reporting for Ghanaian News, Canada
The Governor of the Bank of Ghana, Dr. Johnson P. Asiama, has cautioned that the ongoing tensions involving the United States, Israel, and Iran could negatively affect Ghana’s liquidity if the conflict persists.
Speaking at an international conference organised by GEXIM, Dr. Asiama stressed that while he hopes the conflict will end soon, the central bank is taking precautionary steps to protect the economy.
“While we hope that the hostilities will end soon, we have put in place measures to mitigate any potential impact on the country’s financial system,” he stated.
Commentary | Boakye Stephen:
Ghana must not treat this as a distant geopolitical issue. Every global war today has a local price tomorrow. Our dependence on imports and foreign exchange makes us highly vulnerable. Preparedness must go beyond assurances; it must reflect in real economic discipline and local productivity.
Accountability on Trial: Politics Threatens GH¢68 Billion Audit Probe
Tensions have intensified in Parliament as the Minority accuses the Majority of disrupting the Public Accounts Committee’s probe into a GH¢68 billion audit report.
Chair of the committee, Abena Osei Asare, explained that proceedings were abruptly halted after Majority members withdrew.
“We began today… Around 11:15, one of the whips from the Majority side walked in and said we have to excuse their members,” she said.
She added, “Without their members… we cannot continue with the proceeding. So today we had to halt it.”
However, Majority Chief Whip Rockson Nelson Dafeamekpor rejected claims of sabotage:
“The impression that we are not interested in the committee’s work is not accurate,” he stated.
“We met yesterday and took a decision… that committee activities should be suspended until Friday.”
Commentary | Boakye Stephen:
When accountability becomes negotiable, corruption becomes inevitable. GH¢68 billion is not just a figure, it represents public trust and national survival. Any delay weakens confidence in governance and sends the wrong signal to the nation.
Galamsey Turns Violent: State Faces Armed Environmental Crisis
The National Anti-Illegal Mining Operations Secretariat (NAIMOS) has intensified its crackdown, seizing 94 excavators and arresting 237 individuals.
Director of Operations, Col. Dominic Buah, revealed:
“94 excavators so far have been seized… Almost 3,000 changfans destroyed. Arrests: We have 237. The majority of them are foreigners.”
He also disclosed the seizure of weapons and warned:
“NAIMOS will not stand by and watch people use weapons against us… anybody who dares, NAIMOS will deal with them ruthlessly.”
He added, “We are better trained in weapons… If you go to their field with a weapon… a lot more will be at you.”
Commentary | Boakye Stephen:
This is no longer just illegal mining; it is an armed challenge to state authority. When criminal groups begin to match force with force, the situation becomes a national security crisis. Ghana must respond strategically, not just forcefully.







