Financial Markets Must Be Dynamic - Prof Amoako-Adu

Accra, Aug. 4, -- Ghana's business and financial sectors must be deepened to conform with the dynamic changes of the global market, a Ghanaian Professor of Finance, said in Accra today. Professor Ben Amoako-Adu, based in Canada, said Ghana's financial market, which has undergone tremendous development under the economic recovery programme cannot be left out of the global market integration. "To become one of the players in the world market, we have to be conversant with the changes taking place in other markets," Professor Amoako-Adu said when he opened a four-day seminar on 'Foreign Currency and Interest Rate Derivatives." The seminar, under the auspices of the Ghana Stock Exchange, is being attended by participants from the business, banking and industry sectors. It seeks to introduce participants to derivatives as one of the financial instruments which can facilitate the development of the financial market. Derivatives, basically is about transfering or hedging the risk associated with financial transactions, especially on interest and exchange rates. Professor Amoako-Adu said Ghana's economy has reached a stage where risk management is necessary to help importers and exporters to contain and hedge the uncertainty of interest and exchange rates.