The Governor of the Bank of Ghana (BoG), Johnson Asiama, has assured that Ghana’s economy remains resilient despite emerging global uncertainties.

Speaking on Channel One TV’s The Point of View on Wednesday, March 25, with Bernard Avle, Dr Asiama said the cost incurred from recent economic measures was not severe and would not recur this year.

“When I assessed the cost we incurred, it was not fatal; it was like a one-time cost. These are not costs that will be repeated this year. What is important is to maintain the gains,” he said.

He, however, cautioned that external factors, particularly geopolitical tensions in the Middle East, pose potential risks to the economy.

“But unfortunately, we have the Middle East crisis knocking on our doors—what we call geopolitical shocks. These are some of the things we have to contend with. For now, our hope is that the crisis will be short-term and will end soon,” he noted.

Dr Asiama indicated that the central bank would introduce new policy measures if the situation persists.

“If, however, it persists, then we will have to design different policy measures to deal with it. But this is not the first time Ghana’s economy is suffering a global shock. We will get through it,” he assured.

He added that the Bank of Ghana is working closely with the Finance Ministry and other government agencies to respond appropriately to developments.

“We are in contact with the Finance Ministry and other government agencies on what to do and at what time. Contingency measures are in place. Our reserve levels are comfortable. We are in sync with the other players of government, and I’m sure we will pull through this one,” he said

Dr Asiama expressed confidence that coordinated efforts across government institutions would help the country withstand the impact of any prolonged global crisis.