BoG withdraws from Gold for Oil programme after heavy losses

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Jesus Is God 6 months ago

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Benji 6 months ago

Bawuliaaaaaaar. Claiming gold for oil was a good thing for Ghana. NPP only knows how to create debts.

Bawuliaaaaaaar. Claiming gold for oil was a good thing for Ghana. NPP only knows how to create debts.
FRANKIE 6 months ago

That's about $4 billion. More than our current deal with the IMF. Addison and Bawumia and co who masterminded this heinous economic crime against the nation must not go Scot free.

That's about $4 billion. More than our current deal with the IMF. Addison and Bawumia and co who masterminded this heinous economic crime against the nation must not go Scot free.
prophet mohammed was a sick dog 6 months ago

Qur'an is. toilet paper. .. Burn all. mosques in Africa. Kill muslims. ..

Qur'an is. toilet paper. .. Burn all. mosques in Africa. Kill muslims. ..
DEAD GOAT MAHALIAR IS BACK 6 months ago

Propaganda from NDCeivers as usual. Even a baby in its mother’s womb knows the Gold for oil is what has made the cedis appreciate. All this lies just to promote the looting machinery in Goldbod. Thieves are in government no ...
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Propaganda from NDCeivers as usual. Even a baby in its mother’s womb knows the Gold for oil is what has made the cedis appreciate. All this lies just to promote the looting machinery in Goldbod. Thieves are in government now!
Kweku Tsin 6 months ago

If what you are saying is true, then the value of the cedi should depreciate after the cancellation. But your math does not add up. The Ghanaian politician is shamelessly only good for one thing; cut bogus deals to defraud an ...
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If what you are saying is true, then the value of the cedi should depreciate after the cancellation. But your math does not add up. The Ghanaian politician is shamelessly only good for one thing; cut bogus deals to defraud and saddle the country with debt. Both gold and oil have monetary values. The only good reason to swap gold for oil is to avoid paper trail and to cover up corruption. Ghana would have been a few million dollars richer if Bawuliar had just done nothing. Are we better off with or without leaders? SHAME.
Akosua 6 months ago

I just don't understand people like you, must everything be about your party. Ghana must come first in all our submissions. This is BoG's report not John Mahama. We are fedup of npp thinking they are the best thing since slic ...
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I just don't understand people like you, must everything be about your party. Ghana must come first in all our submissions. This is BoG's report not John Mahama. We are fedup of npp thinking they are the best thing since sliced bread. No party is perfect, just except your party's mistakes and try to do better in the future.
Ruben 6 months ago

It seems you a kumawu actor

It seems you a kumawu actor
Jack Toronto 6 months ago

It means, they exported the GOLD, but no oil was exchanged. Are these are the people who want to hanedle the ciuntry?

It means, they exported the GOLD, but no oil was exchanged. Are these are the people who want to hanedle the ciuntry?
TWEAA DC 6 months ago

THE BOG CAN ALSO WITHDRAW FROM THE POLICY THAT HELPED GHANA TO BUILT UP HER GOLD RESERVES TO 30 THOUSAND TONES...THAT TOO WAS UNDER AKUFO/BAWUMIA...SHAME ON YOU ASIAMAH AND YOUR BOARD...TWEAA.

THE BOG CAN ALSO WITHDRAW FROM THE POLICY THAT HELPED GHANA TO BUILT UP HER GOLD RESERVES TO 30 THOUSAND TONES...THAT TOO WAS UNDER AKUFO/BAWUMIA...SHAME ON YOU ASIAMAH AND YOUR BOARD...TWEAA.
Lori 6 months ago

Bawumia is a thief.

Bawumia is a thief.
kk 6 months ago

we said it but they thought we were lying,If I sell gold for dollars and I use that dollars to buy oil what will change positively if I exchange that gold directly for oil

we said it but they thought we were lying,If I sell gold for dollars and I use that dollars to buy oil what will change positively if I exchange that gold directly for oil
M.T 6 months ago

Then I would go for swapping gold directly for oil if the value remains the same. Don't be quick to judge in a polarized country like Ghana by the statements of politicians. If you have a quantity of gold which will sell at a ...
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Then I would go for swapping gold directly for oil if the value remains the same. Don't be quick to judge in a polarized country like Ghana by the statements of politicians. If you have a quantity of gold which will sell at a particular price and the fuel supplier says bring the amount of gold equivalent to the cost of fuel and take the fuel directly, then it makes sense to do that rather than go and sell it somewhere at the same price then return back with the cash to buy fuel. Even the old woman who bartered chicken for her grandchild school fees understood the economics and efficiency of this kind of arrangement. The actual value of the transaction itself remains the same if due diligence is observed, but operational cost will be higher if you sell the gold to buy the fuel. Second, cash for fuel will bring in the middle men who are there not to serve you but to make profit. Third, the demand for dollar would increase putting pressure on the cedis. It's poor analysis, to just look at the losses of the program without looking at its role in the recent cedi appreciation which has cut down the national debt by Ghc 150 billion according to President Mahama. Compare this with the loss of Ghc 41.82 billion. The net value is that we are rather gaining, and not lossing, although other factors contribute to the cedi appreciation. So, how did the BoG do their calculation? This is against economic logic. If BoG incurred losses, the former governor need to explain this because I don't see why you should loss anything in a barter trade wich the prices of both goods are standardized. Nonetheless, the program potentially benefited Ghana by cedi appreciation. This is an attempt to discredit Bawumia who is their main political contender. But, if the government wants to exit the program they should go ahead, and let's wait for the reality to expose them.
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Akronfo Addonothing Mumu Bawuliar Ofui Atta 6 months ago

Right thing to do if so.

Right thing to do if so.
Nana Kwaku 6 months ago

The same way GoldBod will be collapse after NDC exit.Politically we are not matured as a country.

The same way GoldBod will be collapse after NDC exit.Politically we are not matured as a country.
Game Changer 6 months ago

@Nana Kwaku.. because of tribal politics, your brains are disfunctional. You just read the so called Gold4Oil colossal losses well over 40Billion cedis. Are u then saying even if Goldbod is doing well, because it was introduc ...
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@Nana Kwaku.. because of tribal politics, your brains are disfunctional. You just read the so called Gold4Oil colossal losses well over 40Billion cedis. Are u then saying even if Goldbod is doing well, because it was introduced by the NDC, in the unlikely event of the NPP recapturing power, it should be scrapped? Ofui, get sense!!!
Eli 6 months ago

He's speaking the truth. Take it or leave it. It's a fact

He's speaking the truth. Take it or leave it. It's a fact
Goldbod is already collapsing 6 months ago

Just wait and see

Just wait and see
Truth 6 months ago

History tells us that you people have never wanted anything good for this country. But good will come to us and your vile imaginations will perish.

History tells us that you people have never wanted anything good for this country. But good will come to us and your vile imaginations will perish.
Akosua 6 months ago

STOP THE INSULTS IT DOESN'T SOLVE THE HUGE DEBTS CONFRONTING OUR COUNTRY AND THE GOVERNMENT. USE YOUR LAPTOP FOR SOMETHING CONSTRUCTIVE.

STOP THE INSULTS IT DOESN'T SOLVE THE HUGE DEBTS CONFRONTING OUR COUNTRY AND THE GOVERNMENT. USE YOUR LAPTOP FOR SOMETHING CONSTRUCTIVE.
King Anwar Sadat 6 months ago

Is it not this same Bank of Ghana who appreciated the success of the currency to the gold for oil?

Is it not this same Bank of Ghana who appreciated the success of the currency to the gold for oil?
Truth 6 months ago

Initially NDC government (BoG) praises that initiative because it was part of the reason why the cedi is appreciating. What has changed now?
Their party dogs too will believe everything.
NDC supporters ne gyimie de3!

Initially NDC government (BoG) praises that initiative because it was part of the reason why the cedi is appreciating. What has changed now?
Their party dogs too will believe everything.
NDC supporters ne gyimie de3!
Benji 6 months ago

Are you stupid or you just do disinformation? BoG has been making losses since the inception of G4O.

Are you stupid or you just do disinformation? BoG has been making losses since the inception of G4O.
Benji 6 months ago

Also typical NPP, always lying. What NDC praised G4O? It was only Bawumia and NPP supporting and defending that nonsense.

Also typical NPP, always lying. What NDC praised G4O? It was only Bawumia and NPP supporting and defending that nonsense.
Zargon 6 months ago

Do you know what Bawumia and his gang of crooks were doing? They will find the gold for oil programme with BOG money, then when they go and sell and the returns comes it vanishes and DOES not go into the accounts of the BOG w ...
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Do you know what Bawumia and his gang of crooks were doing? They will find the gold for oil programme with BOG money, then when they go and sell and the returns comes it vanishes and DOES not go into the accounts of the BOG who financed it.. then another cycle will start, they will take the money from BOG and when they make the money it disappears again!! So the question is where was the money diverted to? Addison and the crooks in NPP dea, if they don’t go to jail, then Mahama must open up the accounts of govt for every Ghanaian to go in and take whatever amount of money they also want… after that we will ALL start again on a level playing field
Nana k 6 months ago

They fool like ur parents

They fool like ur parents
Peace 6 months ago

Better know that Gold for Oil program is different from Gold for Reserve program. The government only continued the the Gold for Reserve program and that has been the one so much touted by the opposition party

Better know that Gold for Oil program is different from Gold for Reserve program. The government only continued the the Gold for Reserve program and that has been the one so much touted by the opposition party
Agyeman 6 months ago

BOG THIS IS A VERY STUPID IDEA! IS IT BECAUSE TOU HAVE PEGGED PERSONS WHO WILL STEAL FROM GOVT IMPORTS? WHAT'S WRONG WITH YOU NDC PEOPLE. ALWAYS LEAPING BEFORE LOOKING. GYIMI PAA NIE? I'M SURE THEY DIDN'T GO TO SCHOOL WITH VI ...
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BOG THIS IS A VERY STUPID IDEA! IS IT BECAUSE TOU HAVE PEGGED PERSONS WHO WILL STEAL FROM GOVT IMPORTS? WHAT'S WRONG WITH YOU NDC PEOPLE. ALWAYS LEAPING BEFORE LOOKING. GYIMI PAA NIE? I'M SURE THEY DIDN'T GO TO SCHOOL WITH VILLAGE BOYS ESPECIALLY FROM SWEDRU WHERE WISDOM FROM SENSIBLE PEOPLE GUIDED LIFE. TOO MUCH IDIOCY FROM FAKE ACADEMICIANS. CAN WE GET A TYPICAL UNEDUCATED WOMAN TO RAN THIS COUNTRY. WHAT IS THIS. ANOTHER STEALING SPREE? NDC?????NO NO NO
Benji 6 months ago

Dumbass! What are even talking about? BOG has been losing money on G4O ever since it started. 1.8 billion cedis alone in 2024.

Dumbass! What are even talking about? BOG has been losing money on G4O ever since it started. 1.8 billion cedis alone in 2024.
Agyeman 6 months ago

FIXED SALARY PERSONS ARE EVEN TALKING SOME. NOT SURPRISING THEIR BOXER SHORTS ARE ALL ALL WORN OUT. LOOK AT THEM. TRO TRO OKADA COMMENTATORS

FIXED SALARY PERSONS ARE EVEN TALKING SOME. NOT SURPRISING THEIR BOXER SHORTS ARE ALL ALL WORN OUT. LOOK AT THEM. TRO TRO OKADA COMMENTATORS
T T 6 months ago

Barter trade in modern times. No wonder 90% of every 100 stupid people are NPP members

Barter trade in modern times. No wonder 90% of every 100 stupid people are NPP members
Donald T 6 months ago

And Bawumia calls himself an Economic Wizard !! Tweaaaaa

And Bawumia calls himself an Economic Wizard !! Tweaaaaa
Kix 6 months ago

lol so this was what they were claiming was one of the factor making the cedis appreciate against the dollar

lol so this was what they were claiming was one of the factor making the cedis appreciate against the dollar
Kwame 6 months ago

Everything is politics. Crooks at the helm.

Everything is politics. Crooks at the helm.
La Pleasure man 6 months ago

That's why the WaleWale Donkey should stick to herding his hardcore fulani harlot's cows.. Bawuliar can't even count to 3 without a mistake.. 1, eeer, 3..

That's why the WaleWale Donkey should stick to herding his hardcore fulani harlot's cows.. Bawuliar can't even count to 3 without a mistake.. 1, eeer, 3..
Master Kay 6 months ago

Hahaa ...Baluliar paa?... I did learn something new from your post

Hahaa ...Baluliar paa?... I did learn something new from your post
Agbalagba 6 months ago

These numbers in the article are incorrect. You can't put in seed capital of 4 billion and lose 41 billion. You can only lose your seed capital.
Needs a serious editor

These numbers in the article are incorrect. You can't put in seed capital of 4 billion and lose 41 billion. You can only lose your seed capital.
Needs a serious editor
Kojo poku-London UK 6 months ago

NPP can you see the losses incurred BY GHANA in the Gold for Oil initiative you are praising Dr Bawumia for

NPP can you see the losses incurred BY GHANA in the Gold for Oil initiative you are praising Dr Bawumia for
re: 6 months ago

source?

source?
T.T 6 months ago

Never trust the BOG claim,they are crooks.

Never trust the BOG claim,they are crooks.
Emma osew 6 months ago

Write your comment how can you do exchange of gold for oil. then you tell us that you have lose ndc is a criminals peoples

Write your comment how can you do exchange of gold for oil. then you tell us that you have lose ndc is a criminals peoples
KWABENAFÖ 6 months ago

That initiative never made sence to me why would we sell our raw oil to be processed abroad and then go and buy it back with our gold, and hmm Ghana.

That initiative never made sence to me why would we sell our raw oil to be processed abroad and then go and buy it back with our gold, and hmm Ghana.
Ibrahim 6 months ago

Now the stupid mc Jerry of neat fm will stop his JANDAM at his morning show Shame on him

Now the stupid mc Jerry of neat fm will stop his JANDAM at his morning show Shame on him
KofSam 6 months ago

Even a JSS pupil knew that the gold for oil program was a fraudulent scheme by the NPP yet Ghanaians went along with it .

Even a JSS pupil knew that the gold for oil program was a fraudulent scheme by the NPP yet Ghanaians went along with it .
Sammy 6 months ago

Always lying through your teeth.
You can please your supporters with your lies but level headed Ghanaians know the truth.
You came to meet an economy that has been stabilised so no amount of lies can give you credit for t ...
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Always lying through your teeth.
You can please your supporters with your lies but level headed Ghanaians know the truth.
You came to meet an economy that has been stabilised so no amount of lies can give you credit for the current plusses.
Eli 6 months ago

@sammy Are you sure you're in Ghana? Or is it that you're too stupid and an imbecile?

@sammy Are you sure you're in Ghana? Or is it that you're too stupid and an imbecile?
Hannan 6 months ago

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We need accountability for reckless and high level corruption 6 months ago

How can you implement a program that gives you high losses and you continue it? No wonder the NPP left the energy sector with debt. Recklessness and corruption everywhere

How can you implement a program that gives you high losses and you continue it? No wonder the NPP left the energy sector with debt. Recklessness and corruption everywhere
Eli 6 months ago

Who was giving credit to bawumia for that and sammy gyamfi's job?

Who was giving credit to bawumia for that and sammy gyamfi's job?
Goldbod is already collapsing 6 months ago

Goldbod is another bogus policy. It has already collapsed. Just wait and see. The

Goldbod is another bogus policy. It has already collapsed. Just wait and see. The
Former President 6 months ago

Lies, lies and more lies. Ghc 25 - 30 to $1 by Xmas. No light by Xmas, time to buy a generator

Lies, lies and more lies. Ghc 25 - 30 to $1 by Xmas. No light by Xmas, time to buy a generator
Public figure 6 months ago

So,where are the proponents of this dubious policy. Only making noise,as though they have the brains. Am shocked it has turned out to have brought loses instead of the much touted gains. Surprisingly after all,it yieded to no ...
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So,where are the proponents of this dubious policy. Only making noise,as though they have the brains. Am shocked it has turned out to have brought loses instead of the much touted gains. Surprisingly after all,it yieded to nothing but losses to billions. Those making the noise,that the cedis gained good appreciation because of G4O should shut their mouths up when brains are at work.
Your era 6 months ago

Job for the boys

Job for the boys
Lion 6 months ago

Still!!! The dollar will fall

Still!!! The dollar will fall
Egya Kofi 6 months ago

Look at the arrogance of ageing GPRTU quasi-ddmocratically eleçted leaders who have never been accountable...The Tax on fuel is one of the most reasonable direct tax ever It makes sense..Put on your patriotic cap..your ordi ...
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Look at the arrogance of ageing GPRTU quasi-ddmocratically eleçted leaders who have never been accountable...The Tax on fuel is one of the most reasonable direct tax ever It makes sense..Put on your patriotic cap..your ordinary members are shocked
Ataa Obeng site 19 Tema 6 months ago

Every policy Bawumia and NPP brought is a scam because NPP will not bring anything that will not profit them personally, NPP didn't think of Ghana but their personal interest

Every policy Bawumia and NPP brought is a scam because NPP will not bring anything that will not profit them personally, NPP didn't think of Ghana but their personal interest
Pblo 6 months ago

The way there are voices still supporting NPP after what they did to the country for 8 years tells you to just look at moving your family abroad and abandon this country. There are millions of people who will be happy to see ...
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The way there are voices still supporting NPP after what they did to the country for 8 years tells you to just look at moving your family abroad and abandon this country. There are millions of people who will be happy to see this country turn to Somalia if their cronies are not in power. I'm struggling to understand them!
Kwaku 6 months ago

NPP is a bunch of thieves and nation wreckers.

NPP is a bunch of thieves and nation wreckers.
Sense 6 months ago

I’ve read some NPP zombies are saying initially the NDC praised G4O policy, I promise you that is a big lie NDC never praised any stupid policy that never been productive, the zombies should read well

I’ve read some NPP zombies are saying initially the NDC praised G4O policy, I promise you that is a big lie NDC never praised any stupid policy that never been productive, the zombies should read well
Things are Knocking Things 6 months ago

If the gold for oil was a good initiative the cedi wouldn't have been trading Ghc 16 against the dollar

If the gold for oil was a good initiative the cedi wouldn't have been trading Ghc 16 against the dollar
Kwaku 6 months ago

And Bawumia still has the mouth to talk. Incompetent, so-called economist. He should neve think he can become president of gahan because he has failed woefully as a vice president.

And Bawumia still has the mouth to talk. Incompetent, so-called economist. He should neve think he can become president of gahan because he has failed woefully as a vice president.
Kwame Peter 6 months ago

The whole write up is a mumbo jumbo of nonsense calculated to deceive,gold for oil was good suddenly it is good,GHC 40billion loss is no small amount so how did it occur? Ghanaians were told GoldBod has exported $5.6billion g ...
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The whole write up is a mumbo jumbo of nonsense calculated to deceive,gold for oil was good suddenly it is good,GHC 40billion loss is no small amount so how did it occur? Ghanaians were told GoldBod has exported $5.6billion gold,then it became $2.6billion then recently $1.17 billion,John Mahama is on his way to an ignominious failure greater than the last time Ghana was unfortunate to be led by him.

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BoG withdraws from Gold for Oil programme after heavy losses

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