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Lazy ‘Gold for oil’ deal will plunge Ghana into debt crisis – John Jinapor

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Ranking Member on Parliament’s Mines and Energy Committee, John Jinapor has criticised government’s “Gold for Oil” approach to solving the constant fuel price hikes.

Mr Jinapor says the move will rather worsen the government’s unsustainable debt burden. 

According to the former Deputy Minister for Power, the gold being used for the deal ought to be valued in dollar terms as a function of currency as it is done for oil. 

Speaking in an interview with Accra-based Citi FM, on Tuesday, January 17, Mr Jinapor said government to be cautious about the move. 

“This is a lazy man’s approach, because gold, first of all, needs to be expressed in its monetary value. 

“You can’t just say take an ounce of gold and give me a barrel of oil, as it used to be in the real barter that you are talking about. 

“You must first of all, value that gold in dollar terms, and that is the function of currency or money,” he said. 

The Yapei Kusawgu MP added that the deal with impact Ghana’s finances badly. 

“I’m not a prophet of doom, but from all the documents I have read, we are heading for a debt crisis out of this so-called Gold for oil deal”.

Government took delivery of the first consignment of oil under the policy at the Tema Port on Monday, January 16.

The 40,000 metric tons of oil from the United Arab Emirates was subsequently discharged to Bulk Oil Storage and Transportation (BOST).

BOST will subsequently formulate plans for its distribution and sale to the Oil Marketing Companies. 

The move is part of the government’s efforts to reduce fuel prices and reserve the country’s forex.

However, some Ghanaians have raised concerns about the government’s ability to sustain the policy.

But the Bank of Ghana has allayed those fears saying the country has enough gold for the deal.

According to the Central Bank, the country has a sufficient quantity of gold reserves to sustain the policy. 

The Director of Financial Market at the Bank of Ghana, Stephen Opata made this known on Monday, January 16, when he appeared before the Public Accounts Committee (PAC).

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2025 AFCON qualifiers: Black Stars to hold first training session in Accra today

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The Black Stars will open camp in Accra on Monday, November 11, 2024, to begin preparations for their final two 2025 Africa Cup of Nations (AFCON) qualifiers.

Otto Addo’s team will hold their first training session at the Accra Sports Stadium at 5:00 p.m. ahead of the matches against Angola and Niger.

Monday’s training session will be open to the media and fans, but Tuesday’s session will be held behind closed doors, according to the Ghana Football Association.

The team will travel to Luanda on Wednesday and hold their pre-match mandatory training at the Estádio 11 de Novembro.

The match against Angola will take place on Friday, November 15, in Luanda, before the Black Stars wrap up the qualifiers at the Accra Sports Stadium against Niger on Monday, November 18.

Ghana currently sits third in Group F with just two points from four games, and qualification is no longer in their hands.

The Black Stars must win their remaining matches and hope that Sudan, who have seven points, lose both of theirs in order to qualify.

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I saw his face and he was Jubilating Powerful Prophet Reveals Who He Saw Winning The Election

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As Ghana prepares for its upcoming 2024 elections, President Nana Akufo-Addo has issued a cautionary message to religious leaders regarding the increasing number of conflicting prophecies surrounding the electoral process. This warning comes at a time when prophetic support for various candidates is gaining visibility, notably for former President John Mahama.

One of the most prominent voices in this discourse is Prophet Clement, a respected spiritual leader known for his influential role in the community. Recently, Prophet Clement has made headlines by publicly declaring that he has received divine revelations affirming Mahama’s victory in the presidential race. He claims to have experienced visions of Mahama triumphing on ten distinct occasions.

In a recent public address, Prophet Clement shared his compelling visions, stating, “I have seen this several times. I saw Mahama’s face being painted with the Ghana map, and he was jubilating.” This vivid imagery has sparked discussions among citizens and political analysts alike, raising questions about the influence of spiritual insight on the electoral process.

The prophet has expressed a sense of divine mandate to pray for Mahama’s success and has indicated his readiness to support any candidate believed to be chosen by God. This endorsement comes at a critical juncture as President Akufo-Addo prepares to step down after two terms in office, following Ghanaian law that limits presidents to a maximum of two terms. This transition sets the stage for a highly competitive election as various candidates position themselves to fill the leadership void.

With the election date drawing near, anticipation is mounting across the nation. Ghanaians are encouraged to actively engage in political conversations that will shape the future of their country. As events unfold, the nation stands at a crossroads, and the outcomes of this electoral process are poised to influence Ghana’s political trajectory for years to come.

President Akufo-Addo’s warning serves as a reminder of the complex interplay between faith and politics in Ghana, urging both clergy and the public to approach the forthcoming elections with discernment and responsibility.

As prophetic backing for Mahama intensifies, many Ghanaians are closely monitoring the political landscape. The discussions surrounding Prophet Clement’s predictions have ignited both interest and debate within the electorate. Citizens are left to ponder the implications of these prophecies: Will Mahama’s candidacy align with the predictions of a certain victory, or could the election result in a surprising shift, bringing a different leader to the forefront?

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Black Stars defender Gideon Mensah reveals how confidentiality breach ruined his Barcelona transfer deal

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Black Stars full-back Gideon Mensah has shared details about a potential transfer to FC Barcelona that fell through five years ago due to a breach of confidentiality. In 2019, while Mensah was with Red Bull Salzburg, he was offered a loan move to Barcelona as a backup for Jordi Alba.

However, news of the deal leaked, breaking the confidentiality agreement and ultimately leading to the transfer’s collapse a missed opportunity that Mensah recalls as deeply disappointing.Reflecting on the moment, Mensah said, “I couldn’t resist thinking about the next flight to Spain.

The next day, I saw the news everywhere in Ghana that Barcelona wanted me. So, I called my agent, asking him what happened to keeping it quiet.” His agent was also unaware of how the information got out, which led to the transfer unraveling.

Today, Mensah plays for French Ligue 1 side AJ Auxerre and has earned nearly 30 caps with the Ghanaian national team, the Black Stars.

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