Ghana Halts Gold-for-Oil Initiative Following GH¢2 Billion Deficit
The Rise and Fall of Ghana’s Gold for Oil Initiative
In recent developments, the Bank of Ghana (BoG) reported staggering financial losses, amounting to GH¢317 million in 2023 and escalating to GH¢1.82 billion in 2024. These figures are a sobering reminder of the challenges faced by regulatory institutions in navigating economic turbulence. Have you ever wondered how decisions like these ripple through a nation's economy?
The central bank committed roughly GH¢4.69 billion to the Gold for Oil (G4O) initiative. In…