Economist and political risk analyst Dr Theo Acheampong has said that Ghana is better positioned this time to respond to rising global oil prices.

Speaking on recent market developments via X on March 9, 2026, Dr Acheampong noted, “We've got various policy scenarios/pathways clearly mapped out and the necessary actions that need to be taken, even all the way past $180 per bbl. Luckily, Ghana's economy is on a much better footing this time around to respond to such shocks, should they be sustained.”

Dr Acheampong, who is also a Technical Advisor at the Ministry of Finance, reflected on lessons from past crises, including the Russia-Ukraine war.

Crude oil price hits $108 per barrel

He argued that while the conflict impacted Ghana’s economy, it primarily “exposed and amplified deep-seated internal fiscal vulnerabilities rather than being the sole cause of the country's economic crisis,” contrary to some narratives at the time.

He further highlighted the importance of policy clarity and communication in maintaining market confidence.

“I appreciate the need for policy clarity and timely communication to carry the people along in maintaining market confidence. Any measures taken by the government will be announced through the usual formal channels. We are keenly following external developments and will respond as needed,” he said.

Meanwhile, economists and market watchers have noted that rising oil prices could have inflationary effects in Ghana, particularly on fuel and transportation costs.

ON RISING OIL PRICES ------------------ 1. We've got various policy scenarios/pathways clearly mapped out and the necessary actions that need to be taken, even all the way past $180 per bbl. Luckily, Ghana's economy is on a much better footing this time around to respond to such…

— Theo Acheampong, PhD (@mytheoz) March 9, 2026