I’ll back Cedi with gold, other resources to stabilise currency if elected – Bawumia

Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), announced plans to stabilise Ghana's economy by backing the cedi with gold if elected.

Amid the cedi's significant depreciation—currently trading at 15 cedis to the US dollar—Bawumia addressed concerns during his 'Bold Solutions for the Future' engagement with labor union leaders.

He attributed the currency's instability to the lack of a stable anchor and proposed using gold reserves to provide stability in the exchange market.

Bawumia emphasised that backing the cedi with gold would ensure greater economic stability.