Gold-for-Oil incurred losses worth GH¢2.14 billion despite positive impact on FX - BoG confirms

Read Comments Comments (10)

• Kwesi 4 months ago

  Yet Bawumia and the NPP hailed it as the best thing to have ever happened in Ghana. And this man wants to be President. He is a disaster of an economist. Ken all the way.

  Yet Bawumia and the NPP hailed it as the best thing to have ever happened in Ghana. And this man wants to be President. He is a disaster of an economist. Ken all the way.

  reply
• Kay De 4 months ago

  Did you read well and understood the report? Fools.

  Did you read well and understood the report? Fools.

  reply
• Chaddar is the Answer 4 months ago

  this is a scam played on Ghanaians, how can you deal in oil in two years and lose this huge amount of money. Was the oil poured into the sea in incur debt. Scammers in the house.
  oil self you dey lose money then giving the h ...
  read full comment

  this is a scam played on Ghanaians, how can you deal in oil in two years and lose this huge amount of money. Was the oil poured into the sea in incur debt. Scammers in the house.
  oil self you dey lose money then giving the head of the seat to you to control

  reply
• BOY KOFI 4 months ago

  There is nowhere in this letter that says Ghana used gold to exchange oil directly as a "barter trade ".
  The Minister of Finance,Mr Ato Forson challenged NPP to provide evidence of barter trading where gold was used to buy o ...
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  There is nowhere in this letter that says Ghana used gold to exchange oil directly as a "barter trade ".
  The Minister of Finance,Mr Ato Forson challenged NPP to provide evidence of barter trading where gold was used to buy oil.
  This bogus letter does not confirm any direct gold payment to any oil company anywhere.
  Did we use pure gold to buy any oil at all?
  The answer is capital no,period. Tnx.

  reply
• MP 4 months ago

  Report is one sided ; Quantified losses but failed to quantify gains - reduction in fuel prices at pump stations and positive impact on FX.
  
  Shd have calculated both and netted it off.

  Report is one sided ; Quantified losses but failed to quantify gains - reduction in fuel prices at pump stations and positive impact on FX.
  
  Shd have calculated both and netted it off.

  reply
• Okponglo Guy 4 months ago

  Truth
  1. They exited the program because IMF told them to but came out to lie that it was because of their ingenuity.
  
  2. The report talks about the cost but doesn’t calculate the significant gains.
  
  3. Over 1.3 bil ...
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  Truth
  1. They exited the program because IMF told them to but came out to lie that it was because of their ingenuity.
  
  2. The report talks about the cost but doesn’t calculate the significant gains.
  
  3. Over 1.3 billion dollars have so far been spent over the past few months to prop up the cedi.
  
  What is the damn difference? Rule by propaganda? Can’t blame them when the NPP in its latter years failed to engage the public.

  reply
• Hannan 4 months ago

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• Quophi 4 months ago

  I thought they said there was no gold for oil, so how can something that didn't exist make losses?

  I thought they said there was no gold for oil, so how can something that didn't exist make losses?

  reply
• AJ 3 months ago

  Good question

  Good question

  reply
• Roadrunner 4 months ago

  Bawumia reckons this is the best thing since
  Sliced bread.....yep put up this deal.claiming it would help the ecomony. So who is right and who is wrong?? He ( Bawumia) has claim to be an ecomonist of some sort ,and the B ...
  read full comment

  Bawumia reckons this is the best thing since
  Sliced bread.....yep put up this deal.claiming it would help the ecomony. So who is right and who is wrong?? He ( Bawumia) has claim to be an ecomonist of some sort ,and the Bank of Ghana is saying the country got ripped off. Was this just an accounting error by the Bank of Ghana? Or did the Country get ripped off.?
  I mean,a couple of billion cedis is a bit of money
  In anyone's language, I would be interested to hear what Bawumia has to say.

  reply