Financial analyst Joe Jackson believes Ghana’s recent economic gains are not just the result of internal policies but a byproduct of global dynamics—especially former U.S. President Donald Trump’s trade tariffs.
Speaking on TV3’s KeyPoints on May 17, Jackson stated, “The external factors have been good to Ghana. And we have put ourselves in a position to take advantage of the external factors.”
Citing a pivotal event in U.S. policy, he said, “The Trump tariff fall—that single event triggered by President Trump—has had three effects on us. Number one is that the dollar has depreciated against all major currencies. That the dollar is depreciating against our cedi is not news.”
According to Jackson, Trump’s push to lower oil prices globally is indirectly benefiting Ghana’s macroeconomic outlook.
“President Trump has said he wants the price of a barrel of oil to come to as low as $40,” he emphasized, adding that this creates a ripple effect that makes oil cheaper for oil-importing countries like Ghana.
While Jackson credited Ghana’s leaders for local interventions such as Gold4Oil and the emerging Goldbod initiative, he made it clear that global trends are also giving the country a valuable opportunity.
“I think that the Finance Minister and the Governor also deserve some credit for the initiatives they have introduced to shore up the value of the cedi, despite the external factors,” he noted.
