The former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has warned that Ghana will soon face a fuel crisis if urgent steps are not taken. In a post shared on Facebook, Alex Mould said that the country will soon be experiencing fuel shortages because companies that import oil products are running out of the needed foreign exchange that will enable them to import these products. He indicated that these companies are not getting the needed foreign exchange because the Bank of Ghana is also running out of foreign exchange. “Fuel shortage imminent due to Foreign Exchange (FX) credit crunch unless government intervenes. Alex Mould added that the government must speed up processes to get an International Monetary Fund bailout to help avert the situation.

Source: GhanaWeb August 15, 2022 22:59 UTC