According to a White House fact sheet, steel, aluminum, gold and copper imports won’t be subject to reciprocal tariffs, providing at least some relief to domestic buyers who are already bearing the cost of Section 232 tariffs of 25% on all imports of some key metals. Gold, however, jumped as much as 1.1% to a record as investors sought safety following the tariff headlines. Bullion has climbed more than 20% this year after a ferocious run in 2024.
With interest rates at 27 percent and inflation easing to 23.5 percent in January, Asiama said better monetary and fiscal policy-coordination should help cool price pressures as the country puts the economic trauma of its 2022 debt default behind it. Africa’s biggest gold producer had to seek a $3 billion bailout from the International Monetary Fund and restructure its debt after defaulting on its obligations.
The Alliance for Social Equality and Public Accountability (ASEPA) has asked the government to rescind its decision to purchase oil from the world market using gold.
From January 2023, the Ghana government will exchange gold for oil. That is gold produced locally will be exchanged for a portion of the petroleum needs of Ghana
The Ghanaian government on Thursday announced its plans to buy oil products with gold rather than the United States’ dollar reserves
Ghana’s finance minister says the country is at high risk of debt distress as the currency, the cedi, has depreciated against the U.S. dollar, increasing its foreign debt by $6 billion this year alone.