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Wednesday, April 24
The world has changed from when you can take tomatoes for onions… The price of oil is decided in the international market.” The proposed policy by the government is uncommon.
Veep, Dr.
Mahamudu Bawumia announced that the government is working on a new policy to buy oil products with gold rather than U.S.
dollar reserves.
The Member of Parliament for the Cape Coast South constituency, Kweku Ricketts-Hagan has described the policy by the government to purchase oil with gold instead of dollar reserves as farcical.
Ghana produces crude oil but it has relied on imports for refined oil products since its only refinery shut down in 2017..
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