GRi Business, Economics & Finance 14 - 05 - 2002
British Airways flight makes successful landing after initial alarm
Ministries reach agreement with banks on Fund
Accra (Greater Accra) 14 May 2002 - The Boeing 767 British Airways flight on Monday finally touched down, stopped at the end of the run-way without any hitch and taxied onto the tarmac, despite an emergency situation.
Earlier, officials of the Kotoka International Airport (KIA) hurriedly mobilised services when news came through that the plane was about to make an emergency landing. Ambulances were provided and a stand-by team of five fire tenders from the Ghana National Fire Service as well as doctors of the aviation clinic were ready to avert any mishap.
Mr. Edward Akohene, Director of Safety Regulations at the Ghana Civil Aviation Authority, told newsmen that he received information about the emergency situation from the British Airways representative at the airport. He said personnel at the KIA were put on the alert while the 37 Military Hospital and the aviation clinic were requested to make doctors available.
The British Airways Country Manager, Mrs. Anno Sackey, who declined to indicated the number of passengers on board said her office was informed by the pilot that one of the tyres of the plane had a low pressure, this she relayed to the flight safety office for the necessary precaution.
The passengers included the Deputy Minister of Foreign Affairs, Mr Mustapha Idris, Mrs Gladys Asmah, Minister of Women and Children Affairs and Journalists who accompanied the Vice-President, Alhaji Aliu Mahama to the UN Children Summit in Washington, US.
GRi../
Send your comments to viewpoint@ghanareview.com
Accra (Greater Accra) 14 May 2002 - The Minister of Finance, Mr. Yaw Osafo-Maafo left Accra on Monday for Paris, France, to hold final negotiations with the Paris Club on Ghana's debt and to seek support for Ghana's economic programmes. Before his departure, the finance minister told newsmen at the Kotoka International Airport that that he would discuss special assistance to Ghana on public finance management.
Mr. Yaw Osafo-Maafo also indicated that he would seek support for revenue agencies such as Customs, Excise and Preventive Service, the Valued Added Tax Secretariat and the Internal Revenue Service to automate and improve their work.
The Finance Minister, who would be away for six days would be expected to visit London, UK, to hold discussions with Miss Clare Short, the British Minister for Overseas Development.
GRi../
Send your comments to viewpoint@ghanareview.com
Accra (Greater Accra) 14 May 2002 - The Ministries of Trade and Industry and Finance have reached an agreement with Designated Financial Institutions (DFI) to process application forms for soft loans under the Export Development and Investment Fund (EDIF).
Dr Kofi Konadu Apraku, Minister of Trade and Industry told the GNA in an interview in Accra on Monday that the agreement was to ensure that the government met targets to increase exports and raise revenue. The DFI, including the Agricultural Development, Ghana Commercial, SSB and The Trust banks had refused to process the applications, saying the venture was risky.
Processing of applications for the fund, which became operative last month, was over a period of 36 days and the banks were to take 10 of the 15 per cent interest on each loan and bear the risk in case of repayment default. The Trade Minister said under the new arrangement, the banks had agreed to process the forms while a committee drew up new guidelines and modalities to manage the disbursement.
The guidelines, he said, would be in response to risk bearing in case of default. Dr Apraku said initially, the Bank of Ghana (BOG) was to debit the account of the disbursing bank immediately there was a payment default by beneficiaries.
However, he said, to avoid being exposed to such risk, the banks had been given enough time to reorganize in case of default before debiting their accounts under BOG's the new guidelines.
GRi../
Send your comments to viewpoint@ghanareview.com