Ghanaians, he claims, do not understand the gold-for-oil policy. The unconventional politician stated that the government should pursue a path of refining the mineral and adding value to the mineral before selling it, adding that the money accumulated from the finished gold products will be sufficient to buy the oil. The interview was broadcast on Kumasi-based Sompa FM.
“Does it make sense to you to buy oil with gold? Why don’t you sell your gold, make the money and go and buy the oil?” he asked.
Oil for gold trade deal
The decision to purchase oil goods using gold rather than U.S. dollar reserves aims to combat the weakening of the Ghana cedi and rising cost of living caused by depleting foreign exchange reserves and the demand for dollars by oil importers.
Oil for gold trade deal
The decision to purchase oil goods using gold rather than U.S. dollar reserves aims to combat the weakening of used by depleting foreign exchange reserves and the demand for dollars by oil importers.
Vice President Dr. Mahamudu Bawumia stated that the new program, which intends to buy oil products in return for gold, is expected to save the government rough
He said that the strategy that will be put into place in the first quarter of the following year might also lessen some of the pressure the cedi is under from inflation.
Vice President Dr. Mahamudu Bawumia stated that the new program, which intends to buy oil products in return for gold, is expected to save the government roughly US$3 billion in foreign exchange per year.
Speaking on his presidential aspirations, Kennedy Agyapong stated that a variety of circumstances would select the NPP’s leader going into the 2024 general elections.
He said that while choosing the candidate to lead the governing party in the upcoming elections, the party’s delegates will consider factors other than proper language and academic credentials.
