Bawumia on how he envisaged the use of gold to support the currency

The flagbearer of the New Patriotic Party, Dr Mahamudu Bawumia, has explained in detail what drove him to introduce the Gold-for-Oil and Domestic Gold Purchase programmes. Speaking in Accra to members of the Ghana National Association of Small-Scale Miners, the former Vice President said two interlinked problems forced him, while serving as Vice President, to “think outside the box” for sustainable solutions. The first, he said, was the sudden halt in external financing following the impact of the COVID-19 pandemic and the Russia-Ukraine war on the global economy. The second was the conditions attached to Ghana’s IMF programme. Source: Daily Graphic (https://www.graphic.com.gh/news/politics/bawumia-on-how-he-envisaged-the-use-of-gold-to-support-the-currency-video.html)