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Ghana plans to buy oil with gold instead of U.S. dollars

Source: Reuters

ACCRA, Nov 24 (Reuters) - Ghana's government is working on a new policy where gold rather than U.S. dollar reserves will be used to buy oil products, Vice-President Mahamudu Bawumia said on Facebook on Thursday.The move is meant to tackle dwindling foreign currency reserves coupled with demand for dollars by oil importers, which is weakening the local cedi and increasing living costs.Ghana's Gross International…

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