Duncan Amoah, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has applauded the government's decision to suspend the Gold-for-Oil policy, a programme introduced by the previous administration to reduce Ghana's reliance on foreign exchange for fuel imports and stabilize domestic fuel prices.
The move comes after the Bank of Ghana (BoG) acknowledged financial losses and operational challenges associated with the initiative.
In an interview with Bloomberg, BoG Governor Dr.
Johnson Asiama confirmed the suspension, stating, "We have had to incur some losses on that, so we have put some suspension on the trade." While Dr.
