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    Ghana

    Ghana to use gold to buy oil products to tackle country’s forex exchange crisis

    By BNN Newsroom • 10 months ago
    Ghana to use gold to buy oil products to tackle country’s forex exchange crisis

    All large-scale mining companies in Ghana is ordered to sell 20% of their entire stock of refined gold at their refineries to the Bank of Ghana from Jan. 1, 2023, Vice-President Mahamudu Bawumia said on Facebook on Friday.

    The government move is part of a broader plan to tackle dwindling foreign currency reserves by using gold to buy oil products, which is announced on Thursday by Bawumia.

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