President John Dramani Mahama has assured Ghanaians that the ongoing tensions in the Middle East will not have any negative impact on the country’s economy.
Speaking during a working visit to Dormaa Ahenkro on March 18, 2026, the President made the remarks after cutting sod for the construction of a 24-hour economy market at the Tuesday Market site. He addressed growing concerns about how global conflicts could affect Ghana’s economic stability.
President Mahama acknowledged that the Ghanaian cedi has historically faced challenges against major foreign currencies, dating back to the administration of former President John Agyekum Kufuor. However, he stressed that the situation has significantly improved under his leadership.
He explained that the cedi has appreciated strongly, noting that while it previously took about GHS 16.00 to purchase one US dollar, the rate has now improved to approximately GHS 10.7 per dollar at the Bank of Ghana—representing about a 40% gain.
The President further pointed out that although global crises such as COVID-19 and the Russia-Ukraine War have had widespread economic effects, Ghana’s current economic stability places it in a strong position to withstand external shocks.
He reassured citizens that the strengthened cedi will act as a buffer, emphasizing confidently that the Middle East conflict will not affect Ghana’s economy.
By Odehyieba Nanasei Sempremo
Adiyia FM
Dormaa Ahenkro
