Ghana’s economy could indeed be adversely affected by the Israel-Hamas conflict. The ongoing tensions in the Middle East have the potential to disrupt the global supply of goods and services, including products that Ghana imports, such as foodstuffs.
If the conflict persists, Ghana may experience the economic ripple effects. Dr. Mohammed Amin Adam, Minister of State at the Finance Ministry, acknowledged the likelihood of this impact.
He further said, “This (Israel-Hamas War) is an event that could engulf the whole world. To the extent that it affects global supply of goods we import. Some of our goods including even the foods that we eat from other countries, Israel exports grains, one of the largest, and that could affect global happenings. To the extent that the goods that are heavily imported into this country will certainly affect us as well.”
“It is too early to say that the effect is here, but there is always the transmission mechanism through which global happenings affect countries like Ghana,” Dr Amin Adam pointed out.
Hamas militants from the Gaza Strip reportedly infiltrated southern Israel, targeting Israeli civilians. Reports indicate that more than 600 Israelis have lost their lives, and around 100 have been kidnapped in these attacks.
In response to these actions, Israeli forces have carried out retaliatory air strikes in Gaza, resulting in at least 313 casualties, according to Palestinian officials.
Despite the escalating situation, the Israeli Mission in Ghana has emphasized that it is not yet time for immediate evacuation. They have committed to ensuring the safety of all individuals, including Ghanaian citizens residing in the affected region.
On the other hand, the Government of Ghana has strongly condemned the ongoing attacks by Hamas on Israel. In an official press release issued on October 8, 2023, the Ministry of Foreign Affairs and Regional Integration called on Hamas to cease its attacks immediately and withdraw its militants from southern Israel.
The Ghanaian government also urged the Israeli government to exercise restraint in responding to these attacks.