GHANA PLANS TO BUY FUEL WITH GOLD INSTEAD OF DOLLARS
The republic Ghana plans to buy fuel from the international market and pay off with gold instead of dollars.
A statement by the president of the republic Ghana, his excellency Nana Addo Dankwa Akuffo Addo earlier this week made it clear about the recent plans to import fuel into Ghana From the international market and paying off with gold.
This was evidenced and broadcasted on LN247 NEWS, a TV station in Nigeria on Tuesday evening, 29th November,2022.
This is as a result of the economic hardship imposed on the country by the galloping nature of dollar over Ghanaian Cedi.
As of today, 30th November, 2022 , the United States dollar rises high to an extent that one(1) dollar is equal to GHS 14.45 .
The rampant increase in the dollar over the Cedi in return increases the prices of the fuel imported into the country.
As of today, one litter of fuel(petrol) is soled for GHS 16.82 in most fuel stations. This varies from station to station.
The rampant increase in the fuel prices has also lead to an inflation that has never been recorded in the history of Ghana.
Prices of goods and services kept increases everyday in the country and subsequently making cost of living so unbearable in Ghana.
Ghana is one of the leading countries in the production and extraction of Gold, as a result, the president sees it been better to pay off with gold instead of dollars in order to cut down the inflation and economic hardship in the country.
Meanwhile, many of the citizens are contemplating as to whether this can be possible.
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