IFS, IMANI accuse Terkper of costing Ghana Ghc2.7b

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cha 10 years ago

Is time for new leadership in Ghana mahama havce failed

Is time for new leadership in Ghana mahama havce failed
OB 10 years ago

leave the man alone!!!

leave the man alone!!!
Mahama ne kotsi 10 years ago

u are very stupid Mahama is destroying the country cant u see? Ofui OB.

u are very stupid Mahama is destroying the country cant u see? Ofui OB.
Saint Ghfuo: nyantakyi must GO! 10 years ago

HE SHOULD HAVE STAYED IN US AND WORKED FOR IRS OR WORD BANK. NOT ACTING AS A FINANCE MINISTER. HE IS NOT AN ECONOMIST. HE IS USING GH ECONOMY TO DODGE AND SWERVE TAXES. NOW, YOU KNOW WHY THE BUDGETS ARENNT BALANCING AND THE J ...
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HE SHOULD HAVE STAYED IN US AND WORKED FOR IRS OR WORD BANK. NOT ACTING AS A FINANCE MINISTER. HE IS NOT AN ECONOMIST. HE IS USING GH ECONOMY TO DODGE AND SWERVE TAXES. NOW, YOU KNOW WHY THE BUDGETS ARENNT BALANCING AND THE JUDGEMENT DEBTS ARE OUT OF WACK...MUAHAHAHAHAAAAAA
Bafour 10 years ago

Same uneducated idiots Think Fools would cry that I was not mandate of the minister to hedge otherwise country would have gained if the situation were the opposite. Real hypocrisy for not seeing anything positive about Ghana.

Same uneducated idiots Think Fools would cry that I was not mandate of the minister to hedge otherwise country would have gained if the situation were the opposite. Real hypocrisy for not seeing anything positive about Ghana.
des 10 years ago

you are very right

you are very right
MAHAMA LOOT ND SHARE 10 years ago

MAHAMA CHOP ALL AND LEFT BONES TO GHANIANS,TWEAAAAAAAA USELESS MAHAMA IS CORRUPT PERIOD,KWASEA BI NTI

MAHAMA CHOP ALL AND LEFT BONES TO GHANIANS,TWEAAAAAAAA USELESS MAHAMA IS CORRUPT PERIOD,KWASEA BI NTI
okletey 10 years ago

Prof Kusi please go and redeem your indebtedness to the Ministry of defence. You were paid monies and you never delivered your promised products

Prof Kusi please go and redeem your indebtedness to the Ministry of defence. You were paid monies and you never delivered your promised products
JJJ 10 years ago

Do we have the capacity for such risk management activity in the country? Remember the hedging or futures trading activities that landed Ashanti Gold Mines into the deep hole and they never recovered.

As the saying goes, ...
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Do we have the capacity for such risk management activity in the country? Remember the hedging or futures trading activities that landed Ashanti Gold Mines into the deep hole and they never recovered.

As the saying goes, half a loaf is better than none. Terkpe is doing the right thing for now. We need to put in place the necessary infrastructure and build the capacity to undertake these types of international transaction so we do not lose the little we have now.
Kwame 10 years ago

SEE THESE FOOLS AGAIN!

SEE THESE FOOLS AGAIN!

Kobby 10 years ago

There are conditions that should precede every hedging programme. What were the conditions at the time Ghana did hedge? Are the conditions same? I didn't read that in the press briefing

There are conditions that should precede every hedging programme. What were the conditions at the time Ghana did hedge? Are the conditions same? I didn't read that in the press briefing
Kobby 10 years ago

There are conditions that should precede every hedging programme. What were the conditions at the time Ghana did hedge? Are the conditions same? I didn't read that in the press briefing

There are conditions that should precede every hedging programme. What were the conditions at the time Ghana did hedge? Are the conditions same? I didn't read that in the press briefing
Koo Nimo 10 years ago

Hedging is just a term used in shrouding the act of gambling in secrecy. It is sweet if and only if it goes one's way.But if it goes the other way, one finds himself wailing and gnashing ones teeth. Consequently, one would no ...
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Hedging is just a term used in shrouding the act of gambling in secrecy. It is sweet if and only if it goes one's way.But if it goes the other way, one finds himself wailing and gnashing ones teeth. Consequently, one would not venture into hedging if one was not a degenerate gambler. It is obvious that Mr. Seth Terkper is not a gambler,therefore he chose not to venture into any hedging program of Ghana's oil prices.I doubt if those accusing him of financial loss to the state understand the term "Financial Loss". They should simply zip their mouth and allow the minster to focus on his business.
Lawyer Nyamekye 10 years ago

Rubbish economics by the chn of npp. Is this also npp strategy? Hedging is not as simple as IFS and IMANI. Cheap party politics and nothing else.

Rubbish economics by the chn of npp. Is this also npp strategy? Hedging is not as simple as IFS and IMANI. Cheap party politics and nothing else.
PEKI TUMU 10 years ago

After the case against Tsikata about hedging why should this Minister expose himself to another hedging?

He is a cautious Minister who has come up with better management of the economy than the NPP gurus

After the case against Tsikata about hedging why should this Minister expose himself to another hedging?

He is a cautious Minister who has come up with better management of the economy than the NPP gurus
Efovi 10 years ago

Do we have to appoint magicians,or people who can look info the crystal ball to manage things we don't have control over?Rememeber Tsikata was blamed for hedging and causing financial loss and now Tekper didn't hedge and caus ...
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Do we have to appoint magicians,or people who can look info the crystal ball to manage things we don't have control over?Rememeber Tsikata was blamed for hedging and causing financial loss and now Tekper didn't hedge and causes financial loss.Oooh Ghana who can satisfy you?
Analyst 10 years ago

Hedging is a lottery between you and your hedging partner. To hedge our little share of oil being mined in Ghana, means we have reached an agreement with a purchasing partner to sell to him our oil at a certain fixed price ir ...
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Hedging is a lottery between you and your hedging partner. To hedge our little share of oil being mined in Ghana, means we have reached an agreement with a purchasing partner to sell to him our oil at a certain fixed price irrespective of what happens to the oil price in the future. When the oil price falls below this agreed price, we win, he loses; and when the oil price rises above this agreed price, we lose, he wins. Why would someone enter such an agreement with you if he does not see his chances of winning and we losing.
So what would motivate a partner to enter into this agreement is his forecast that oil prices will be rising in the future. When oil prices are already at all-time highs, the probability of them falling is more than rising.
You just assume someone has hedged his oil to Ghana to buy at $140.00 a barrel shall we be happy seeing that oil is being sold at around $50.00 per barrel? So there is no motivation for buyers to go in for this type of thing called hedging.
But more importantly, Ghana's production of oil is very small about 120,000 barrels of oil a day of which only 13% belongs to Government. Even countries who produce millions of barrels a day like Saudi Arabia, Nigeria, etc have not hedged their oil. In fact everybody would have loved to insure himself against price falls but there will be no partner willing to do this.
A T 10 years ago

You call yourself an Analyst but you obviously don't know what you are talking about. At any given price, there are people willing to buy and others willing to sell. There are traders willing to buy put options and others wil ...
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You call yourself an Analyst but you obviously don't know what you are talking about. At any given price, there are people willing to buy and others willing to sell. There are traders willing to buy put options and others willing to sell put options. When oil prices were $100 per barrel, some believed the prices would go up to $130 and others believed prices would go down to $70. Even if most people believed prices would go down, still Ghana could have bought a put option with and exercise price of, say, $90, which would grant Ghana the option to sell oil to the put option's buyer at a price of $90 before the maturity date of the option. There are many ways to hedge.
Sappey-Agboh, Atsiame-Alabohkope 10 years ago

Mr A T hedging and exercising a put option are two different investment tools. We are talking here about hedging that obliges the seller (or buyer) to sell or buy at a set price regardless of future price movements. Therefore ...
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Mr A T hedging and exercising a put option are two different investment tools. We are talking here about hedging that obliges the seller (or buyer) to sell or buy at a set price regardless of future price movements. Therefore, if Ghana had entered into a futures contract to sell oil at set price and the prices of oil increased, Ghana would have lost earnings, however, if the price dropped Ghana would increase her earnings. Nevertheless, just as Analyst said, it's like playing the lottery, you may win or lose. The uncertainty is too much to insure against.
pro ,dr.bonsu 10 years ago

pro is right listing to him, studies many things

pro is right listing to him, studies many things

NAT 10 years ago

who made them tink tank or what is that word,

who made them tink tank or what is that word,
Akans Prophecies 10 years ago

Wonder why this Terkper is always shooting goals against his own country. Never in our history has a man caused such financial loss to his state. But with Mahama every corruption conceeded is possible. He calls deficits ...
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Wonder why this Terkper is always shooting goals against his own country. Never in our history has a man caused such financial loss to his state. But with Mahama every corruption conceeded is possible. He calls deficits future or lond term investements. A deal to cover up his silly habits of stealing. How does a country becomes more poorer with oil than without. The answer is Terkper's fault, under the the command of Mahama.
Sappey-Agboh, Atsiame-Alabohkope 10 years ago

Hold your horses!! Are these two institutions for real? Now which price of oil are we talking about? Is it the price of oil from the Jubilee fields or the price at which Ghana buys oil from the international market? How can w ...
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Hold your horses!! Are these two institutions for real? Now which price of oil are we talking about? Is it the price of oil from the Jubilee fields or the price at which Ghana buys oil from the international market? How can we comment intelligently if we don't know the price in question? Now hedging is like playing the lottery. If these two institutions are talking about oil from Jubilee fields, fair enough, but who could have forecast a drop in the price of oil when there was instability in the Middle East, and when the world economy was picking up? Have they bothered to tell us why the drop in the price of oil? In any case, how did Ghana incur the loss? Ghana is a net importer of oil, therefore savings made from the fall in oil prices would offset the fall in revenue from our share of earnings from the Jubilee fields. Now hedging usually helps if as an importer, you arranged to continue paying an agreed price for the commodities you import with the expectations that when the prices rises, you would make a windfall, however, if the prices falls, you don't make any savings. This is nothing but pure propaganda.
Boamah 10 years ago

Why didn't IMANI forecast a drop in oil price?

What would they have said if Ghana hedged at $80 dollars, and oil price rose to $150?

IMANI has become a joke.

Why didn't IMANI forecast a drop in oil price?

What would they have said if Ghana hedged at $80 dollars, and oil price rose to $150?

IMANI has become a joke.
Double Edge Sword 10 years ago

hedging is bad? These empty tanks don't know what the hell they want and talking about. Comot ojari.

hedging is bad? These empty tanks don't know what the hell they want and talking about. Comot ojari.
Oldsoldier Italy 10 years ago

I hope they are some of NPP lectures no wander!!!

I hope they are some of NPP lectures no wander!!!
obodai Tetteh Sai,Assin Foso 10 years ago

Philosophers must rule and not these idiots.They always tell us the economy is good while the masses keep suffering.

Philosophers must rule and not these idiots.They always tell us the economy is good while the masses keep suffering.
The Independent voice 10 years ago

We need to be circumspect. Hedging can go both ways. We can all be geniuses after the fact but at the time a call has to be made in price direction it is not as easy to call as several factors come into play. If price had mov ...
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We need to be circumspect. Hedging can go both ways. We can all be geniuses after the fact but at the time a call has to be made in price direction it is not as easy to call as several factors come into play. If price had moved up surely you would not have praised the man but now that it has gone the other way and at a fast speed it is easy to criticise. Let us be fair. If we had a crystal ball to see the future prices of commodities non of us would ever have to work.
yaaasantewaa79@yahoo.com 10 years ago

If any of these guys can rightly foresee the movements in the commodoties market and hedge his or her positions accruately then they can apply to Goldman Sachs for a million dollar a year job. Your actions are what they call ...
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If any of these guys can rightly foresee the movements in the commodoties market and hedge his or her positions accruately then they can apply to Goldman Sachs for a million dollar a year job. Your actions are what they call in America "Monday Morning Quarterbacking." Having all the answers after the fact. Give me a break
Nii Kwartei 10 years ago

As a net importer of crude oil Ghana is gaining because we are buying crude oil at current world market prices and selling our oil same. The analysts should look at it in both ways and not from the export side alone.

As a net importer of crude oil Ghana is gaining because we are buying crude oil at current world market prices and selling our oil same. The analysts should look at it in both ways and not from the export side alone.

Kojo 10 years ago

For the first time time on this platform I have to insult IMANI and iFS because they sounded like illiterates.

Are they very familiar with the dynamics of crude oil price volatility and pro- cyclical behavior on the world ...
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For the first time time on this platform I have to insult IMANI and iFS because they sounded like illiterates.

Are they very familiar with the dynamics of crude oil price volatility and pro- cyclical behavior on the world market ?
john 10 years ago

They have spoilt Mother Ghana. God will ask them to answer

They have spoilt Mother Ghana. God will ask them to answer
Ghanaba 10 years ago

think of it...the person buying the oil at the hedged price will one day reap heavily too when prices rebound and you same think tanks will come crying out foul. No need for this hindsight bashing

think of it...the person buying the oil at the hedged price will one day reap heavily too when prices rebound and you same think tanks will come crying out foul. No need for this hindsight bashing
From Des UK 10 years ago

Hedging is the worst form of gambling on the commodities,such gold , diamond and oil!Mr Terper is doing the right to avoid needless gambling. In UK they call it speculation. In fact it's pure gambling with our limited resou ...
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Hedging is the worst form of gambling on the commodities,such gold , diamond and oil!Mr Terper is doing the right to avoid needless gambling. In UK they call it speculation. In fact it's pure gambling with our limited resources!
araba 10 years ago

daddy dont mine them let them talk.

daddy dont mine them let them talk.
Jim wise 10 years ago

Does this boy understand the political economy of this world ? Does he understand the dynamics of oil pricing ? Who says hedging is the solution to ghana's problem ; why did major oil producing countries like Nigeria , Russia ...
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Does this boy understand the political economy of this world ? Does he understand the dynamics of oil pricing ? Who says hedging is the solution to ghana's problem ; why did major oil producing countries like Nigeria , Russia Saudi arabia not hedge their oil? Hedging comes at a price the premium is quite heavy .on the balance Ghana will gain from oil imports than exports . What will save Ghana is production & diversification of our exports , discipline on the part of each and every individual . This primitive attempt to pit kwabena Duffor against Seth Terkper must stop because Seth works with a team!
OSAFO 10 years ago

HE IS JUST STUPID. HOW MUCH OIL DOES GHANA PRODUCE? HE DOESN'T UNDERSTAND ECONOMICS.HOW I WISH THE CRUDE OIL PRICE REMAINS MODERATE AND CUDJOE WILL LAUGH AT THE WRONG SIDE OF HIS MOUTH.

HE IS JUST STUPID. HOW MUCH OIL DOES GHANA PRODUCE? HE DOESN'T UNDERSTAND ECONOMICS.HOW I WISH THE CRUDE OIL PRICE REMAINS MODERATE AND CUDJOE WILL LAUGH AT THE WRONG SIDE OF HIS MOUTH.
Abigi 10 years ago

What is been talked about is technical not out of the anus. Tell me if you understand Butterfly hedging, put and calls. If you do not then ZIP it up,

What is been talked about is technical not out of the anus. Tell me if you understand Butterfly hedging, put and calls. If you do not then ZIP it up,
Akwaaba 10 years ago

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Dessy 10 years ago

At the time Ghana was on hedging program on oil market How much was oil price per barrel.. ?It was over 100$/per barrel,, so, there was much money to cover for hedging program. And considering the vulnerability of the oil pr ...
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At the time Ghana was on hedging program on oil market How much was oil price per barrel.. ?It was over 100$/per barrel,, so, there was much money to cover for hedging program. And considering the vulnerability of the oil price, the cost of hedging the the oil in the market will outweight our oil revenue
Victor A. Young 10 years ago

Tweeaaa, Terkper doesn't know kotoo in world economic! He's dazed by world financial/economic trends and just staring at events "toliii" not knowing what to do next, that's why Ghana has lost such an amount of money which cou ...
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Tweeaaa, Terkper doesn't know kotoo in world economic! He's dazed by world financial/economic trends and just staring at events "toliii" not knowing what to do next, that's why Ghana has lost such an amount of money which could have been used to subdue the pressure on h Cedi, instead of begging the IMF to hold our waist. And we call him Finance Minister. Hmmmm!!!
c.stephen sackey. 10 years ago

This is a straightforward commodities hedging strategy.
In any commodities futures market there are parties and counterparties-those who believe in different ditections of the market-the ups and downs.
They always meet to m ...
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This is a straightforward commodities hedging strategy.
In any commodities futures market there are parties and counterparties-those who believe in different ditections of the market-the ups and downs.
They always meet to make old fashion green backs.
Ghana knowing their future oil revenue projection could have protected it with a purchase of a futures put option contract.
The strike price could bave been ,simply , the exact price it used in it's $ per a barrel revenue projection.If it were , say $100.00, the put contract would have given them the right to sell a barrel of oil for that amount regardless of the market value of oil at or before the expiration of the contract.
In most cases the contract is settled before the contract's settlement date.
If Ghana had done that it won't have lost out that much when oil price took a dive.It's because hedging can't cover all the "BASIS", but it sure gives a peace of mind when a business model depends on some certainty.

Having said all that it's about time Africa sets it's own commodities futures trading exchange. It's the only continent without one; South Africa signed a memoradum of understandind with the Commodity Futures Trading Commission in 1997, but I doubt if it went ahead with an establishment of it's own exchange.
And the sad part is it's the continent natural resources-gold, diamonds, cocoa, bauxite, etc, which are traded on these exchanges, 24-7.
God bless Africa.
Kofi Mensah 10 years ago

HEDGING IS GAMBLING WITH THE STATE ASSET. THE MINISTER IS BETTER THAN YOU LOT WHO DO NOT UNDERSTAND THAT FOREX TRADING IS GAMBLING WITH THE STATE MONEY. IF IT GOES WRONG YOU WILL BE CALLING FOR HIS HEAD.

HEDGING IS GAMBLING WITH THE STATE ASSET. THE MINISTER IS BETTER THAN YOU LOT WHO DO NOT UNDERSTAND THAT FOREX TRADING IS GAMBLING WITH THE STATE MONEY. IF IT GOES WRONG YOU WILL BE CALLING FOR HIS HEAD.

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IFS, IMANI accuse Terkper of costing Ghana Ghc2.7b

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