Ghana is planning to use gold instead of US dollars to buy oil with:
The last time this was tried in Africa things didn’t turn out too well for the country’s leader. Visit from the US Marine corp. a possibility?
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They will need an ongoing source of gold income (of some sort–earned/traded/purchased) or else it all comes crashing down.
Ghana is the leading African gold producing country, with a total mine production amounting to 117.6 metric tons in 2021.
It makes sense for Ghana to pay in gold, which it produces, rather than its limited foreign currency reserves which are quickly running out.
Wendy
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