[Download] Ghana’s Gold For Oil (G4O) Programme – All you need to know

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The government announced plans in November 2022 to purchase oil products in gold rather than US dollars.

Vice President Dr Mahamudu Bawumia stated that the move was intended to address dwindling foreign currency reserves as well as the demand for dollars by oil importers, which were weakening the local cedi and raising living costs.

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“It will fundamentally change our balance of payments and significantly reduce our currency’s persistent depreciation,” Dr Bawumia said.

Source: hypercitigh.com

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