Ghana's new central bank governor, Dr.
Johnson Asiama, has announced the suspension of the Gold-for-Oil program, a flagship initiative introduced under the Akufo-Addo administration to reduce reliance on foreign exchange for fuel imports.
Speaking in an interview with Bloomberg on Friday, February 28, 2025, Dr.
Asiama cited policy and operational challenges as reasons for putting the program on hold. "We have had to incur some losses on that, so we have put some suspension on the trade," he told Bloomberg.
