Dr. Mahamudu Bawumia, the flagbearer of Ghana’s New Patriotic Party (NPP), has announced his intention to stabilize the Ghanaian cedi by backing it with the country’s gold reserves if he wins the upcoming presidential election. He believes that anchoring the cedi to gold will provide much-needed stability to the currency, which currently lacks a strong anchor.
A presidential candidate in Ghana has announced that if he wins the election, he will support backing the country’s currency with gold.
Again,
Africa is waking up to the power of gold. pic.twitter.com/6gBsfWHcvK
— Gold Telegraph ⚡ (@GoldTelegraph_) July 28, 2024
Sources:
citinewsroom.com/2024/05/my-ultimate-goal-is-backing-the-cedi-with-gold-for-stability-bawumia/
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