Ghana is in talks with Emirates National Oil Co. for a barter arrangement that will enable the West African nation to buy fuel with gold.
Ghana is struggling to stabilize its economy and sees the barter system as a way to stem a slide in the cedi — the world’s worst performer among currencies tracked by Bloomberg. The weakening cedi is fueling inflation and depleting the nation’s foreign-exchange reserves.
“ENOC is interested in giving us refined oil for gold,” Steve Opata, head of financial markets at the Bank of Ghana, said in an interview on Monday. “Depending on what quantities they are committed to giving us, we will give them the equivalent in gold. This is a government-to-government program.” The plunging currency resulted in inflation accelerating to 40.4% in October. That prompted the central bank to raise borrowing costs by 250 basis points to 27%, the highest level in more than 19 years.
Trueques de activos fosil y de refugio, que en los últimos dias están a la baja.