{"id":360366,"date":"2026-04-02T14:05:10","date_gmt":"2026-04-02T14:05:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/360366\/"},"modified":"2026-04-02T14:05:10","modified_gmt":"2026-04-02T14:05:10","slug":"war-in-the-middle-east-has-proved-unable-to-slow-ghanas-economic-momentum","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/360366\/","title":{"rendered":"War in the Middle East has proved unable to slow Ghana\u2019s economic momentum"},"content":{"rendered":"

\n Ghana\u2019s economic progress persists despite the ongoing Middle East conflict<\/a>,<\/a> which has affected global energy markets and trade logistics, including those within the West African nation.\n <\/p>\n

\n Last year, the Ghanaian economy derived significant advantages from its gold trade, leveraging the upward trend in global gold valuations.\n <\/p>\n

\n However, the geopolitical conflict involving the United States, Israel, and Iran resulted in certain disruptions within the gold trade.\n <\/p>\n

\n This issue, which is mostly tied to the conflict in the Middle East, threatened vital flight routes to the United Arab Emirates (UAE), a major center for Ghanaian gold shipments.\n <\/p>\n

\n However, consistently strong global gold prices and a mining push in the West African country ensured that Ghana continued to profit from its primary natural resource.\n <\/p>\n

\n Additionally, Ghana was one of the 5 African countries<\/a> to which the Dangote refinery sent 456,000 tonnes of petrol, around 12 cargoes<\/a>, allowing the West African country to mitigate energy shortages.\n <\/p>\n

\n Consequently, while certain nations experienced economic instability due to the conflict in the Middle East, the Ghanaian economy demonstrated growth.\n <\/p>\n

Ghana’s current inflation<\/p>\n

\n A report seen on Bloomberg<\/a> shows that consumer prices for March rose 3.2% year-on-year, compared with 3.3% in the previous month.\n <\/p>\n

\"Accra, <\/p>\n

\n This information was relayed by the Ghanaian Government Statistician, Alhassan Iddrisu, on Wednesday, during an online press briefing in the country\u2019s capital, Accra.\n <\/p>\n

\n \u201cThis is the lowest inflation we\u2019ve recorded since rebasing,\u201d he said. \u201cIt shows a steady movement toward stability.\u201d\n <\/p>\n

\n As expected, the report showed that Africa\u2019s largest gold producers benefited from an improved fiscal outlook and high gold prices.\n <\/p>\n

\n Citing good domestic macroeconomic conditions, high real rates, and a persistent disinflation trend, Ghana’s central bank lowered borrowing costs from 15.5% to 14% last month.\n <\/p>\n

\n However, Governor Johnson Asiama warned of impending price pressures brought on by the Middle East crisis.\n <\/p>\n

\n In the same breath, the Governor expressed confidence regarding the adequacy of foreign exchange reserves held by Africa’s preeminent gold producer to effectively mitigate currency volatility.\n <\/p>\n

\n For the remainder of this year, the Bank of Ghana projects that inflation will remain within the medium-term target range of 6% to 10%.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Ghana\u2019s economic progress persists despite the ongoing Middle East conflict, which has affected global energy markets and trade…\n","protected":false},"author":2,"featured_media":360367,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-360366","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/360366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=360366"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/360366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/360367"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=360366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=360366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=360366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}