The Dispatch

Summit costs Ghana 1.5 billion cedis

The on-going Fifth African-African-American Summit costs Ghana a total of 1.5 billion cedis, the government contributing about 850 million cedis, while the balance of 650 million cedis is being borne by the private sector, says the Dispatch in a front page story.

The paper says the summit which will be officially opened by President Jerry Rawlings today, however, kicked off last Monday with the opening ceremony of the Trade and Investment Exposition by the Vice-President, Prof. John Atta Mills.

Government obeys IMF?s orders

In another front page story, the Dispatch says the government, in its desire to get the International Monetary Fund (IMF) to grant Ghana?s request for a new three-year Enhanced Structural Adjustment Facility (ESAF), has agreed to abide religiously by a number of directives suggested by the IMF.

The paper quotes part of a letter written by the Finance Minister, Mr Kwame Peprah to the IMP boss, Mr Michel Camdessus, which states: "During the period of the three-year ESAF arrangement, the government will consult with the Managing Director on the adoption of any measures that could be appropriate, at the initiative of the government or whenever the Managing Director requests such a consultation".

The Dispatch says the directives enjoin the government to ?publish annually, list of guaranteed loans in the budget, ?obtain cabinet approval of a legal framework for the reform of subvented agencies?, obtain cabinet approval f an alternative employment programme for retrenched workers of subvented agencies? and conduct a housing and population census next year.