Topic: 2024-Supply Chain Stability
Country: Ghana
Delegate Name: Breck Suvedi
Special Political Committee
Supply Chain Stability
Ghana
Breck Suvedi
Forest Hills Northern
The Republic of Ghana recognizes that the global supply chain is vital for the global economy’s stability and resilience against global disruptions. Over the past few years, there have been many challenges in the stability of the supply chain. For a developing country nation like Ghana, disruptions in the supply chain have had major repercussions. These disruptions in the supply chain stability led to food insecurities and affected our industrial output and overall economic stability. Ghana believes in building a transparent, resilient, and inclusive supply chain that addresses the needs of developing nations. As a country that just came out of being in a massive crisis a couple of years ago, Ghana has done an awesome job coming out of that economic slump. Ghana was headed down the wrong path. There were very high interest rates, along with a very low confidence of foreign investors which led to a period of inflation and debt for Ghana. Ghana now is on the right track because they are increasing their interest rates, and deflating their currency, which inflates the value of their currency.
As a country with a growing economy, Ghana relies heavily on the global supply chain for key products such as medical supplies, agricultural inputs, and energy resources. Disruptions in these supply chains have massive consequences on the economy of Ghana. Ghana is committed to working with the United Nations to establish solutions that will ensure long-term supply chain stability for the benefit of all countries, especially lower and middle-income nations. The biggest supply chain instability that has recently affected Ghana has been the conflict between the Russian Federation and Ukraine. This conflict has led to a major supply chain instability. This conflict along with COVID-19, has led to a 40% inflation gain in Ghana and a 55% decrease in its currency value. Many other smaller and middle-income nations have also felt similar effects from similar events and want justice. while some of the bigger nations have not felt the effects of these events because many of the major corporations funding the stuff are from the big countries, and the companies help their home country before going to help smaller Nations such as Ghana and others. For example, fuel prices spiked 150% in 2022 in Ghana. The war in Russia has led to many shortages in sustenance for the people in Ghana. as the prices of cooking oil, wheat, and fertilizers have all increased majorly because you can’t use the major exporter since they’re in a war, they have no longer been able to export goods. Organizations like the IMF have been able to mitigate these effects and have greatly helped going back to a place where they can trade on the global scale.
Ghana is not just sitting on the sidelines in this fight for supply chain stability, but instead, on the front lines for the fight. Ghana is now building up lots of infrastructure to help decrease the reliability of the supply chain. Furthermore, they’re also farming many of their Foods so they don’t rely on countries like Ukraine which are currently unstable to get those goods. However, they can’t be fully away from the global supply chain because many technological products are only made in big Westernized factories. The IMF has been a prominent donor to these projects. Countries who are willing should provide funds for these projects.
