Ghana fuel shortage looms as Central Bank rations dollars

Bloomberg says Ghana faces a looming fuel shortage as the central bank rations dollars. According to the financial data and Media Company, the rationing follows a surge in oil prices following Russia’s invasion of Ukraine.

The monthly fuel import bill for Ghana jumped to 450 million US dollars in May, from 250 million US dollars in January. 

Bloomberg adds that the central bank is only offering about $100 million a month at its foreign exchange auctions, and licensed bulk distributors can no longer plug the shortfall in the black market.

Leave us a Comment

Comment Form is loading comments...