Ghana risks economic strain if Israel-Iran tensions escalate – Collins Adomako – Nsemkeka
Ghana may encounter significant economic headwinds should the conflict between Israel and Iran escalate further, according to the Deputy Ranking Member on Parliament’s Energy Committee, Collins Adomako-Mensah.
The Afigya Kwabre North MP made the remarks during an appearance on Channel One TV on Sunday, 15 June, where he outlined the implications of the ongoing Middle East tensions for Ghana’s economy, particularly its reliance on imported petroleum products.
“We don’t live in an island. I mean these are two powerhouses,” he remarked. “Yesterday, just because of this, there was a lot of disruption to international travel. These are two oil-solution countries, and it is definitely going to have a toll on our oil prices.”
His comments come amid heightened concerns about global energy stability, with Brent crude prices surging in recent days due to the conflict.
As a petroleum-importing nation, Ghana remains particularly vulnerable to such external shocks, which could trigger fuel price hikes and broader inflationary pressures.
Adomako-Mensah warned that the longer the hostilities persist, the greater the strain on Ghana’s economy.
He urged swift diplomatic intervention to avert further escalation.
“I am just hoping that, as quickly as possible, peace is brought to reign. Otherwise, we should brace ourselves for very tough times ahead,” he cautioned.