The Cedi has been depreciating against the dollar since the beginning of 2022. It is presently the worse performing currency in Africa.1 The country’s economic woes are not isolated though. The World Bank has predicted a risk of global recession in 2023.2 “Experts declare a recession when a nation’s economy experiences negative gross domestic product (GDP), rising levels of unemployment, falling retail sales, and contracting measures of income and manufacturing for an extended period of time.”3 In all these gloomy news, what must be the Christian’s response? “Does the Bible have anything to say about world events?” Yes, it does. Though not a textbook covering everything, yet the Bible speaks to everything. Directly or indirectly; explicitly or implicitly.
The whole counsel of God, concerning all things necessary for His own glory, man’s salvation, faith and life, is either expressly set down in Scripture, or by good and necessary consequence may be deduced from Scripture.4
The Bible is a canon–rule–by which our life is ordered. It addresses matters directly and implicitly by right deductions. (2 Timothy 2:15). Now the Bible as a book also records historical events and there are events that may be described as a recession in the Scriptures. The famine of seven years in Egypt, the great famine in Samaria and the famine in Jerusalem (Genesis 41; 2 Kings 6; Acts 11-12) I believe were all periods of recession. These events gives us some insight by which we are to respond to economic uncertainties like the one our country is going through presently.
Rest In God’s Sovereignty
An oft debated subject is the sovereignty of God. How much control does God have over world events? Some preachers have been bold in error to say God is not in control of the world. Satan is. But to be God, he must necessarily be in total control and in charge of the world. If God is not in full control, then he is not God. The Bible teaches these things clearly.
Our God is in the heavens; he does all that he pleases (Psalm 115:1).
“God the great Creator of all things doth uphold, direct, dispose, and govern all creatures, actions, and things, from the greatest even to the least, by His most wise and holy providence, according to His infallible foreknowledge, and the free and immutable counsel of His own will, to the praise of the glory of His wisdom, power, justice, goodness, and mercy.” 5 There are no world events, including recessions that takes God by surprise. When Joseph finally revealed himself to his brothers, he made a profound statement pointing to the sovereignty of God. He declared: “As for you, you meant evil against me, but God meant it for good, to bring it about that many people should be kept alive, as they are today.” (Genesis 50:20).
See, the purpose for Joseph’s experiences was the preservation of lives; to the end that God will conserve a remnant for himself. But for Joseph in Egypt, conceivably, the famine would have wiped out Jacob’s line. And God’s plan curtailed so to speak. The events of Joseph’s life were all planned by God. Every detail well covered. Long before Joseph was sold to Egypt, God told Abraham of it (Genesis 15:13).
What does it mean to rest in God’s sovereignty you may ask? It means Trust. Faith and Hope in God. Trust in God that he is in control. Have faith in God that he knows all things that will happen to us. And hope that God will work his purposes in our lives (Matthew 6:25-34). We may not know the details. But for the Christian, you can have faith in God. He is in control. A recession may be God’s way of teaching world leaders they are not in control (Daniel 2:21). A recession may be God’s way of teaching us not to trust in uncertain riches (1 Timothy 6:17). It may be God’s way of teaching us what matters—treasures in heaven and not treasures on earth (Matthew 6:19-21). It may be God’s way of drawing sinners to himself (John 6:44). Whatever happens, we say with Paul that “… we know that for those who love God all things work together for good, for those who are called according to his purpose (Romans 8:28).
Pray For Political Leadership
Some may balk at this. But it is a biblical mandate. In both Testaments, the Bible charges prayer for the nation and it’s political leaders. (Psalm 122:6). One clear teaching of Scripture is that human authorities are appointed by God (Romans 13:1). “Every ruling authority that exists has been established by God (Rom. 13:1–2). Human government is a derived authority. Those in authority are described as “the servant[s] of God” (Rom. 13:4) and “ministers of God” (Rom. 13:6)”6. This being the case, the Bible then charges us to pray for those in authority or power. Why this charge? “that we may lead a peaceful and quiet life, godly and dignified in every way” (1 Timothy 2:2).
Let us continue to pray for the leadership of this nation for wisdom to lead the nation.
Be Wise
Panic may lead to bad decisions. Guard yourself against unwise, uninformed decisions. Pray to God for wisdom (James 1:5). Seek counsel in major financial decisions (Proverbs 11:14). Reassess your expenditure. Claw back expenses you can live without. Don’t be profligate. Be thrifty. Jesus was. We must be (John 6:12). Nowadays there is much talk about multiple streams of income. So let me ask: Are there things you can do to support your income? Do them. Also continue to be diligent in your work if you hold an employment. Continue to be hard working if you are a business owner. Simply, be wise.
Be Generous
I assume if you are a Christian reading this, you understand the place of generosity. And are indeed a generous person. Many places in the Bible, Christians are called to support one another. In Galatians 6:10, Paul tells the Galatians to do good to everyone as they have the opportunity. He continues to lay priority on the place of our generosity: “especially to those who are of the household of faith” In these times, don’t stop being generous with the excuse of economic hardship. For the Christian, the Bible calls on us in many places to be generous and help one another. Conrad Mbewe, in his book God’s Design For The Church: A Guide For African Pastors and Ministry Leaders, he calls this “Fulfilling the “One Another” Commands:
The New Testament is full of “one another” commands. They are divine and apostolic appeals to Christians which point to the fact that Christians are responsible to act in specific ways towards other believers. Here are some of them: “love one another” (John 13:34), “edify one another” (Col. 3:16), “honor one another” (Romans 12:10), “live in harmony with one another “(Rom. 12:16).. “serve one another” (Gal.5:13), “carry one another’s burdens” (Gal. 6:2)… and so on”7
Live For Eternity
Life is transient. This is ubiquitous knowledge. Paul says “If in Christ we have hope in this life only, we are of all people most to be pitied.” (1 Corinthians 5:19). This means that if all the hope the Christian has is in this life, then our hope is indeed pitiable. Because there is nothing in this life that can satisfy the believer fully. Job describing human life says man is born unto trouble. Moses speaks of the brevity of life as of a dream.
The believer’s hope is not in the economy of this world. It’s true, we live in this world. We do business in this world. We raise a family in this world. But the Scripture describes this life as a pilgrimage. (1 Peter 2:11; Hebrews 11:13). We are in transit and one day, all the sorrows, hardship and turmoil will end. If our faith is in Christ, we can have hope that one day, our labours will cease and we will rest. Before his crucifixion, Christ charged his troubled disciples to not let their hearts be troubled for he goes to prepare a place for them. We can also take hope in Christ’s words and face everything that comes our way with hope:
Let not your hearts be troubled. Believe in God; believe also in [Jesus] (John 14:1).
Notes
- Kweku Zurek, “Cedi worst performing currency in Africa – World Bank report,” Graphic Online, October 7th, 2022, https://www.graphic.com.gh/business/business-news/cedi-worst-performing-currency-in-africa-world-bank.html
- The World Bank. “Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes.” September 15th, 2022. https://www.worldbank.org/en/news/press-release/2022/09/15/risk-of-global-recession-in-2023-rises-amid-simultaneous-rate-hikes
- David Rodeck, “What Is A Recession,” July 12th, 2022, https://www.forbes.com/advisor/investing/what-is-a-recession/
- The Westminster Confession of Faith, 1.6
- The Westminster Confession, 5..1
- Micahel Oh, “The Purpose and Role of Government”, Esv Global Study Bible online resources, https://www.esv.org/resources/esv-global-study-bible/the-purpose-and-role-of-government/
- Conrad Mbewe, God’s Design For The Church: A GUide For African Pastors and Ministry Leaders (Wheaton, Illinois, Crossway, 2020), 87
Grace and Truth 