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Dr Anthony Akoto Osei, a Minister of State at the Ministry of Finance, has told Parliament that Ghana's debt, including contingent liability from COCOBOD, at the end of last September stood at US$ 7,652.46 million.
The House of Representatives will today debate the planned/ decision of the federal government to obtain a $3 billion World Bank loan for the provision of infrastructure and eradication of poverty in the country.
One of the achievements of former Nigeria President, Olusegun Obasanjo, was his administration's ability to convince the Paris and London Clubs to write off Nigeria's $19 billion foreign debt.
The House of Representatives has mandated its Joint Committee on Finance and Appropriation to liaise with and advise the Federal Government on the consequences of the $3 bil-lion (N351 billion) loan facility offered by the World Bank
A Kampala businessman has sued Pastor Isaac Kiweweesi of Kansanga Miracle Centre for failure to pay for a generator he sold to him on credit.
Opposition has continued to mount against the offer of a $3 billion loan for infrastructural development by World Bank, with the House of Representatives passing a resolution yesterday rejecting the facility.
Plans by the government to obtain a $3 billion loan from the World Bank has drawn fire from the House of Representatives ahead of the debate on it today.
President Ellen Johnson Sirleaf says significant progress has been made to reduce Liberia's external debts.
The Democratic Party secretary general was yesterday committed to Luzira Prison for failure to pay a debts.
The World Bank Group has proposed to assist Nigeria meet its infrastructure challenge, by offering a loan facility of $1 billion every year, totaling $3 billion (about N351 billion) from 2009 to 2011, under its International Development Assistance (IDA).
THE Federal Government has said that in its quest to achieve the MDGs by 2015, it has decided to commit the debt relief funds to boost activities that would facilitate the actualisation of the goals especially health related ones.
The Chartered Institute of Stockbrokers (CIS) has called on the Central Bank of Nigeria (CBN) to allow banks in the country to restructure the debts owed it by operators in the capital market.
The Federal Government has called on Nigeria's development partners not to relent in keeping to the principles of the Paris Declaration by ensuring that their programmes harmonise with the national development agenda.
WHEN all else fails, there is the World Bank. Eskom's decision to tap the bank for $5bn is an admission of defeat of sorts.
ESKOM is edging nearer to its goal of raising R150bn for its build programme, with the treasury yesterday confirming the commencement of talks with the World Bank for a $5bn loan.
Human Rights Writers Association (HURIWA) a pro-poor Non-Governmental Organisation, yesterday upbraided the Federal Government of Nigeria for accepting the recent World Bank loan offer of $3 billion, to fix Nigeria's infrastructural facilities.
Zenon Petroleum and Gas has debunked allegations of indebtedness to banks up to the tune of $2 billion, describing the allegations as "a cheap blackmail and a figment of the imagination of detractors".
In the preceding articles in the above series in this column, we tried to draw the attention of our readers to the rapidly increasing national debt and the oppressively high cost of servicing. Indeed, we were concerned that in spite of a debt service burden, which will certainly exceed N400bn this year, there is virtually no major infrastructural development or significant contribution to the ...
The Federal Government has proposed a budget of N2.67 trillion for its services in 2009. The estimate is about N653 billion lower than the N3.323 trillion budgeted by government this year. Daily Champion recalls that the National Assembly had last Thursday passed the controversial N2.64 trillion 2008 budget amendment bill.
United Nations Secretary-General Ban Ki-moon has called for drastic measures to protect developing countries against the global financial crisis.
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