“The Ghana gold coin allows the Financial institution of Ghana to mop up extra liquidity within the banking sector and can complement the financial institution’s payments for liquidity administration,” Addison stated. “It offers these resident in Ghana an extra avenue to take a position to reap the advantages of the Financial institution of Ghana’s home gold buy program.”
The cash will probably be accessible within the subsequent two weeks by means of industrial banks to be purchased in cedis and priced on the idea of London Bullion Market Affiliation public sale value, he stated, including that the gold complies with the central financial institution’s accountable gold sourcing guidelines.
The central financial institution has purchased 65.4 tons of gold valued at roughly $5 billion because it began a home gold buy program in June 2021 to enhance overseas reserves and improve gold holdings, in addition to implementing a so-called gold for oil program, Addison stated final month.
(By Ekow Dontoh)