GHANAIAN TIMES

The Ghanaian Times in the main story on its front page reports President Jerry John Rawlings as deploring the unrestrained installation of foreigners as chiefs in the country. In a story headlined: "Chieftaincy under threat...President condemns installation of foreigners", the Times says the President cautioned traditional authorities to restrain themselves in the installation of foreigners in order to preserve the chieftaincy institution. President Rawlings, according to the paper expressed these sentiments at the annual "Kloyosikplemi" festival of the people of Yilo Krobo traditional area at Somanya in the Eastern Region, at the weekend. The Times says President Rawlings, speaking against the background of a foreign newspaper's uncomplimentary comments about the practice, said some of the installations are violating the sacred chieftaincy institution in the country. GRI

In a another front page story, the Times reports that the Governor of the Bank of Ghana, Dr. Kwabena Duffuor, has expressed concern about the manner in which bank loans meant for productive activities are being diverted to purchase expensive cars and to finance expensive lifestyles. The Times says Dr. Duffuor was launching a new financial package dubbed "SMILE'', an acronym for Small and Medium-Scale Industries Lending, is an innovative package by International Commercial Bank (ICB) Limited, a Malaysian firm which aims at making credit facilities accessible to traders. The paper says Dr. Duffuor advised beneficiaries of the SMILE package to apply them strictly for the intended purpose. According to the Times the Bank of Ghana boss was not happy with the attitude of some business organisations in the country, saying that "many a time the banks are accused of not doing enough to assist businesses but a critical evaluation of the situation shows that the business community should be partly blamed". Dr. Duffuor explained that it was to ensure the effectiveness of the banking sector in providing the necessary interventions to meet the financial needs of t he private sector that the government introduced the Financial Sector Adjustment Programme (FINSAP). GRI

"GUNA smashes activities of Chorkor sand winners", is the headline of a back page story in the Times which says security officers and members of the Chorkor branch of the Ghana United Nations Association (GUNA) at the weekend, smashed the activities of illegal sand and pebble winners operation between Chorkor and Glefe beaches in Accra. The Times says the four-hour operation was mounted to serve as a deterrent to illegal sand winners along the beaches whose activities threaten the fragile coastal areas. GRI