Gold is one way we are going to save the country – Joe Jackson backs Goldbod initiative

Renowned financial analyst Joe Jackson supports Ghana’s gold-backed strategy. He believes it helps stabilize the cedi against the US dollar.

On TV3’s KeyPoints show on May 17, Jackson discussed global economic trends. He noted that Ghana's strategic moves boost the country's economic resilience.

“Investors are moving their money into gold for safety,” he said. “Gold has outperformed the dollar for eight years. I believe gold will help save our country.”

Jackson acknowledged the Gold4Oil initiative. He stated that, despite its flaws, it met its main goal.

“I applaud the Gold Reserve/Gold4Oil programme. It delivered on its objective, even with corruption. If our Governor stays committed to Gold4Oil, you will see the cedi appreciate,” he asserted.

He also highlighted positive international developments for Ghana. These factors provide a unique opportunity for the country.

“The external factors have been favorable to Ghana,” he explained. “We are positioned to take advantage of these factors.”

Jackson mentioned a specific event: “The Trump tariff fall has had three effects on the US.”

“First, it caused the dollar to depreciate against major currencies,” he added.

“It’s no surprise that the dollar is weakening against our cedi,” he continued. “President Trump wants oil prices as low as $40 per barrel.”

In closing, Jackson praised Ghana’s financial leaders. He said they deserve credit for initiatives supporting the cedi's value amid external challenges.