Economy / FinanceRomeo Full Staff

Deepin Moments: 9 Countries Announced to Buy Oil with Gold Instead of Dollars


Deepin Moments Nov 27, 2022 On November 24, Ghana’s Vice President Mahamudu Bawumia announced on social media platforms that Ghana is developing a new policy to use gold instead of dollars to buy oil. This decision is certainly a renewed call for a global shift away from the dollar! The move is intended to counter the decline in foreign exchange reserves and the demand for dollars by oil importers. As of the end of September, Ghana’s total international reserves stood at about $6.6 billion, equivalent to less than three months of imported reserves. This is reportedly down from about $9.7…

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