Commodity slump cost us US$1.3bn – Veep

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GHFUO, be serious & change ur MENtali 10 years ago

YOU CANT EXPECT OR PUT ALL UR EXPORT EARNINGS IN THE EXPORT OF RAW GOODS. DIVERSIFY, WIDEN UR EXPORT BASE AND TURN RAW MATERIALS INTO FINISHED GOODS. EVERYONE INCLUDING THE WHITES, ASIANS ARE IN AFRICA LOOKING FOR RAW GOODS ...
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YOU CANT EXPECT OR PUT ALL UR EXPORT EARNINGS IN THE EXPORT OF RAW GOODS. DIVERSIFY, WIDEN UR EXPORT BASE AND TURN RAW MATERIALS INTO FINISHED GOODS. EVERYONE INCLUDING THE WHITES, ASIANS ARE IN AFRICA LOOKING FOR RAW GOODS TO TAKE BACK TO THEIR COUNTRIES FOR FACTORIES.
Ama 10 years ago

We cannot rely o only cocoa as indicative factor for our earnings. Why not on other products. Our chocolate is the best in the world why cant we just expand the factory and make great export. China alone can absorb our finish ...
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We cannot rely o only cocoa as indicative factor for our earnings. Why not on other products. Our chocolate is the best in the world why cant we just expand the factory and make great export. China alone can absorb our finished product. We are just lazy.
Songna-chebe 10 years ago

This is how the global market works, the market is up today and the market is down the next time. The market price is not a guarantee, supply and demand forces will keep pounding on the cedi. The best strategy was what BoG di ...
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This is how the global market works, the market is up today and the market is down the next time. The market price is not a guarantee, supply and demand forces will keep pounding on the cedi. The best strategy was what BoG did-devalue-and move more cocoa and gold out of the country. Excellent job and well said,VP. Wall Street is champion in this.
Concerned 10 years ago

These people aren't serious. They're talking about 20% fall from prior years. How about the fact that both gold and cocoa are selling for more than they were 5 YEARS AGO!!! During those bumper years, how many times did we see ...
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These people aren't serious. They're talking about 20% fall from prior years. How about the fact that both gold and cocoa are selling for more than they were 5 YEARS AGO!!! During those bumper years, how many times did we see improvements. Now things are returning to normal and they want to complain.

They have failed to properly manage resources, now they will find any pathetic excuse for failures
Okai 10 years ago

he does not seem to know what he's talking about

he does not seem to know what he's talking about
Songna-chebe 10 years ago

Mr. Concerned you are right, however, there is nothing Ghana can do at the International market level. The commodity data would have shown in the forward markets two years ago to last year that traders are not getting buyers ...
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Mr. Concerned you are right, however, there is nothing Ghana can do at the International market level. The commodity data would have shown in the forward markets two years ago to last year that traders are not getting buyers at that price for cocoa and gold from Ghana because the cedi was strong. With $100 you can try the foreign exchange market and see how some of the major currencies do fluctuate (fall too). This is no big deal as the cedi will come up again at another time in the future.
KB,LONDON. 10 years ago

I feel ashamed a whole VP is giving this as an excuse, knowing that commodities face uncertain market prices. You are not voted into power just to sell commodities but also TO manage the PRICE RISK of the commodities and REVE ...
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I feel ashamed a whole VP is giving this as an excuse, knowing that commodities face uncertain market prices. You are not voted into power just to sell commodities but also TO manage the PRICE RISK of the commodities and REVENUE as a whole. You have been very lazy. You don't deserve to remain in office.
Owura Kwaku Ntiamoah 10 years ago

Commodity prices fluctuate all the time on the world market, and agricultural raw materials are most vulnerable. Wouldn't it be better if Ghana's agricultural products, such as cocoa, are processed in some form prior to the ...
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Commodity prices fluctuate all the time on the world market, and agricultural raw materials are most vulnerable. Wouldn't it be better if Ghana's agricultural products, such as cocoa, are processed in some form prior to their being offered for sale? A few years ago a company known as Archer Midland Daniels produced a television commercial (an advertisement) that extolled the benefits of processing raw materials prior to their being sold. Maybe, we should obtain a copy of that TV clip and learn something from it.
CRIMINALS IN POWER 10 years ago

U ALL BELONG TO NSAWAM

U ALL BELONG TO NSAWAM
Boamah 10 years ago

Mr. Amissah Arthur is very knowledgeable. The president should rely more on him instead of his amateur team of young advisers.

Mr. Amissah Arthur is very knowledgeable. The president should rely more on him instead of his amateur team of young advisers.
Kwasi 10 years ago

At the height of the Global financial crisis (between 2008 & 2012) the price of gold was very high as many investors were using it as a safe haven. Every credible financial analyst or economist knew that the increase were pre ...
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At the height of the Global financial crisis (between 2008 & 2012) the price of gold was very high as many investors were using it as a safe haven. Every credible financial analyst or economist knew that the increase were predominantly due to the weakened dollar the rise would reverse as the dollar strengthened.

What did you do with the increased proceeds you reaped at that time. Did you invest? ...what developmental activities did you use that money for.
These lame excuses that receipts from commodities has fallen don't wash. This was so predictable, unless you were preoccupied with Alomo bitters! Don't tell us you expected commodity prices to rise indefinitely or remain high (...as you imply). Our current predicament should have nothing to do with hindsight, but incompetence of the so called local experts at BOG and ministry of finance.
Zakariah Ali 10 years ago

The fluctuation in commodity prices and as such our fortune as a country is a complaint we have heard since the first republic. After 50 years of self government we still hear the same complaint. It makes me wonder whether we ...
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The fluctuation in commodity prices and as such our fortune as a country is a complaint we have heard since the first republic. After 50 years of self government we still hear the same complaint. It makes me wonder whether we have planners worthy of the name or the usual chop small crowd.
EZEKIEL 10 years ago

Mr. Vice President, you're talking SHIT! How can you "lose" something you didn't have in the FIRST PLACE ???
I LOST GHS10,000 at the National lotteries BUT I didn't play!!
A FORMER dep. Gov of the BoG should be EXPECTED to ...
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Mr. Vice President, you're talking SHIT! How can you "lose" something you didn't have in the FIRST PLACE ???
I LOST GHS10,000 at the National lotteries BUT I didn't play!!
A FORMER dep. Gov of the BoG should be EXPECTED to TALK MORE SENSE !!!
Yaw Owusu 10 years ago

Kwesi Amissah-Arthur stop stop singing the same song we have heard since Adam. Ghana should stop selling raw materials and produce to export. Japan has no minerals but makes trillions of dollars from selling cars, computer an ...
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Kwesi Amissah-Arthur stop stop singing the same song we have heard since Adam. Ghana should stop selling raw materials and produce to export. Japan has no minerals but makes trillions of dollars from selling cars, computer and IT. We are not selling anything useful for profits just raw materials which requires no brainer. President Kwesi Amissah-Arthur you and NDC should singing the same song.
SHITOR 10 years ago

Bravo Paa Kwesi...This man should be the next president. As for you Mr Yaw Owusu, I agree we need to manufacture to export, but we also need to stop pollution and involve recycling technology. Cleanliness is next to GOD...S ...
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Bravo Paa Kwesi...This man should be the next president. As for you Mr Yaw Owusu, I agree we need to manufacture to export, but we also need to stop pollution and involve recycling technology. Cleanliness is next to GOD...So lets first clean up our act. We Ghanaians are fkng lazy, dirty and perform open defecation particularly on the beaches in front of tourists....MANUFACTURE? What? We have everything we need by Gods grace and you want more development and destruction of our pristine environment... Greediness better stop
KOJO GRASS ROOTS 10 years ago

THE ANSWER TO THIS CANKER IS TO ADD MORE VALUE TO OUR PRODUCTS AND BUILD MORE MANUFACTURING CENTERS AND STOP EXPORTING RAW MATERIALS FOR THE WHITE MAN TO BE TAKING US FOR GRANTED. LETS DO IT NOW.

THE ANSWER TO THIS CANKER IS TO ADD MORE VALUE TO OUR PRODUCTS AND BUILD MORE MANUFACTURING CENTERS AND STOP EXPORTING RAW MATERIALS FOR THE WHITE MAN TO BE TAKING US FOR GRANTED. LETS DO IT NOW.
VICKY LEE BENTON 10 years ago

THE GOLD FELL ABOUT THREE MONTHS AGO BUT IT HAS BOUNCED BACK A MONTHS AGO, THE PRICES ARE HIGHER THAN EVER.
WHEN YOU KEEP BORROWING AND DOESN'T KNOW HOW TO PAY BACK BECAUSE YOU LACK DEVELOPMENT, THE G.D.P. OF THE COUNTRY IS ...
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THE GOLD FELL ABOUT THREE MONTHS AGO BUT IT HAS BOUNCED BACK A MONTHS AGO, THE PRICES ARE HIGHER THAN EVER.
WHEN YOU KEEP BORROWING AND DOESN'T KNOW HOW TO PAY BACK BECAUSE YOU LACK DEVELOPMENT, THE G.D.P. OF THE COUNTRY IS ZERO. THEY BOLLOW AGAINST ONLY THE RESOURCES, WE DON'T EXPORT ANYTHING BESIDE OUR RESOURCES, WE IMPORT EVERYTHING, AND THE I.M.F. DICTATE TO US BECAUSE OUR GOVERNMENT IS SO STUPID, SO OUR CREDIT RATE LOWERS, THUS WHY OUR CEDI HAS FALLEN.
THE LEADERS ARE NOT NEO THINKERS, THEY JUST WANT TO BE LEADERS AND THUS ALL THERE'S TO IT. LOOK AT THE STUPID PRESIDENT CONFIDING TO ANOTHER COUNTRY TO HELP HIM WITH HIS ECONOMIC WOES.
IF WE DON'T DO SOMETHING, THEY WILL TAKE US BACK TO COLONIALISM.

Commodity slump cost us US$1.3bn – Veep

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