The reserves will cover just 2.9 months of the country's goods and services imports — short of the government's target of covering three-and-a-half-months worth of imports for 2022, according to a copy of the country'sThe Ghanaian government is looking to implement the"new policy regime" of using gold to buy oil products in the first quarter of 2023, in order to counter inflation due to the depreciation of the cedi, Ghana's currency.
Ghana's gold-for-oil policy is unusual because it itself is an oil producing country. However, it still has to import refined oil products such as petrol and diesel, because Ghana's
Source: News Formal (newsformal.com)
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