If Ghana's government is buying processed crude oil and oil products on a daily or monthly basis then someone need to take government advisors to the woodshed and whip them. The normalized global practice for long term purcha ... read full comment
If Ghana's government is buying processed crude oil and oil products on a daily or monthly basis then someone need to take government advisors to the woodshed and whip them. The normalized global practice for long term purchasing of commodities is through futures marketing. Depending on the current reserves of oil purchased at the high end price, government does not have a choice but to sell those at that price level until the new oil pricing comes online. Can you Kwadwo and others tell bankers and mortgage brokers to reduce interest rates on existing loans because interest rates came down or would banks continue to charge rates based on the rates at the time of signed loan contracts? Would traders in Ghana reduce their prices because global prices have gone down with the drop in oil prices in most countries? Would rents come down since price for servicing has come down and maintenance expenses are relatively low?
If Ghana's government is buying processed crude oil and oil products on a daily or monthly basis then someone need to take government advisors to the woodshed and whip them. The normalized global practice for long term purcha ...
read full comment