A presidential candidate pledges gold-backed currency in Ghana. Africa awakens to gold’s power.

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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.

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Sources:

citinewsroom.com/2024/05/my-ultimate-goal-is-backing-the-cedi-with-gold-for-stability-bawumia/

www.classfmonline.com/news/politics/We-ll-back-the-Cedi-with-gold-to-make-it-more-stable-if-I-become-President-Bawumia-51933

 

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