Domestic Gold Purchase (DGP) Programme

Introduction: 1. The Gold for Oil (G4O) Programme is an initiative of the Government of Ghana to use the existing Bank of Ghana (BoG) Domestic Gold Purchase (DGP) Programme to support the import of petroleum products into Ghana. 2. The prime objective of the programme is to use additional foreign exchange resources from the BoG’s DGP programme to provide foreign currency for the importation of petroleum products for the country which currently stands at about USD350 million per month. 3. The government has begun the implementation of the G4O Programme where gold purchases under the BoG’s DGP Programme mainly through…