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PRESS RELEASE: Warning, Imminent Global Recession Looms

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Press Release l


The Ghana International Trade and Finance Conference – GITFiC warns of an eminent global recession as a result of a possible rise in Global Crude Oil, necessitated by the tension on the Red Sea. We also warn of a possible sharp rise in the cost of global cargo transportation.

Reference is made to recent military actions jointly carried out by the United States and United Kingdom with endorsements from some European countries. These, the 8th Steering Committee of the 8th Conference believe are excess-fallouts of the ongoing Israeli – Hamas war in the last three months.

In the estimation of The GITFiC, should crude oil price rise to 180 USD/200 USD per barrel; this will instantly plunge the Global Economy into yet another recession.


Global actors are entreated to immediately call for dialogues to address the threats from the Houthi’s, Iran and the rest of the Gulf countries to avert a possible global recession. A global recession now will further exacerbate the current Global Economic downturn and will compound issues leaving no room for a soon recovery. END l l #GlobalDebtInitiative by The GITFiC

By Jessica Okine – GITFIConline Reporter

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