Observatoire des droits humains (anglais seulement)

Ghana’s fuel payment strategy works for now: how to fix longer term problems

(Version anglaise seulement)

par Ishmael Tingbani, Associate Professor in Accounting, University of Southampton

Ghana introduced a new payment arrangement for petroleum imports in 2023, using gold instead of scarce US dollars. The policy was designed to ease pressure on the cedi by reducing the need for upfront dollar purchases to settle fuel import bills.

In an import-dependent economy, rising demand for US dollars usually weakens the domestic currency. Importers must exchange local currency…

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