Gold programmes helped build Ghana’s reserves and support cedi – Bawumia

Flagbearer of the New Patriotic Party, (NPP), Dr Mahamudu Bawumia, has credited Ghana’s Gold-for-Oil and Gold-for-Reserves programmes with helping to build the country’s foreign exchange reserves and stabilise the cedi. According to him, the programmes enabled Ghana to acquire about $5 billion worth of gold within two years, strengthening the country’s reserve position at a time when access to foreign exchange was constrained.

By Caleb Ahinakwah