Kwesi Kwarteng, spokesperson for Kennedy Agyapong, has warned that Ghana’s currency could face significant pressure if the ongoing tensions between Israel and Iran escalate into a prolonged conflict.
According to him, if the war continues for the next three weeks, the Ghanaian cedi could weaken further, with the US dollar potentially rising to around GH¢17. He explained that global conflicts often trigger economic instability, which can directly affect smaller economies like Ghana.
Kwarteng noted that geopolitical tensions typically disrupt global markets, increase oil prices, and weaken emerging-market currencies. Such developments could place additional pressure on Ghana’s already fragile economic environment.
His remarks come amid growing global concern about the potential economic consequences of the Israel–Iran conflict, particularly for developing economies that rely heavily on imports and are sensitive to fluctuations in the foreign exchange market.