• Short Summary

    GHANA AND THE FEDERAL REPUBLIC OF GERMANY SIGNED TWO AGREEMENTS LAST LEEK (11 JULY) COVERING THE RESCHEDULING OF GHANA'S DEBTS AND FINANCIAL ASSISTANCE FROM WEST GERMANY TO GHANA.

  • Description

    GHANA AND THE FEDERAL REPUBLIC OF GERMANY SIGNED TWO AGREEMENTS LAST LEEK (11 JULY) COVERING THE RESCHEDULING OF GHANA'S DEBTS AND FINANCIAL ASSISTANCE FROM WEST GERMANY TO GHANA.

    THE FIRST AGREEMENT INVOLVES AN AMOUNT OF 15,747,552 NEW CEDIS (ABOUT GBP6,445,000 STERLING) THAT GHANA OWES WEST GERMANY, WHILE THE SECOND DEALS WITH FINANCIAL ASSISTANCE FROM WEST GERMANY TO SUPPORT GHANA'S BALANCE OF PAYMENTS AND ITS DEVELOPMENTS EFFORTS.

    UNDER THE RESCHEDULING-OF-DEBTS AGREEMENTS, 20 PER CENT OF THE MATURITIES WILL BE TRANSFERRED IMMEDIATELY. THE REMAINING 80 PER CENT WILL BE REPAID BETWEEN 1 JULY 1974 AND 1 OCTOBER 1981 AT 4 3/4 PER CENT INTEREST. ORIGINALLY THE DEBTS WOULD HAVE MATURED BETWEEN 1 JANUARY 1969 AND 30 JUNE 1972.

    UNDER THE FINANCIAL-ASSISTANCE AGREEMENT, WEST GERMANY WILL MAKE AVAILABLE TO THE GHANAIAN GOVERNMENT LOANS TO THE VALUE OF 6,375,000,000 NEW CEDIS (ABOUT GBP2,660,000,000 STERLING) THROUGH THE WEST GERMAN DEVELOPMENT LOAN CORPORATION. PART OF THE LOAN WILL BE USED TO FINANCE IMPORTS FROM WEST GERMANY OF ESSENTIAL GOODS AND SERVICES, AND THE REST WILL BE USED TO FINANCE PROJECTS UPON WHICH THE TWO COUNTRIES WILL HAVE TO AGREE.

    THE LOAN CARRIES A GRACE PERIOD OF SEVEN YEARS AND A PAYMENT PERIOD OF 25 YEARS WITH AN INTEREST OF 2 1/2 PER CENT A YEAR.

    MR. E.N. OMABOE, COMMISSIONER FOR ECONOMIC AFFAIRS, SIGNED FOR GHANA, WHILE HERR K. BERGSTRASSER, OF THE WEST GERMAN FINANCE MINISTRY, SIGNED THE FIRST AGREEMENT, AND HERR A. WALLNER, OF THE WEST GERMAN MINISTRY OF ECONOMIC AFFAIRS, SIGNED THE SECOND.

  • Tags

  • Data

    Film ID:
    VLVAAQF9K1IAFLGQZFMUGL0VO6VF5
    Media URN:
    VLVAAQF9K1IAFLGQZFMUGL0VO6VF5
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    16/07/1969
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:13:00
    Time in/Out:
    /
    Canister:
    N/A

Comments (0)

We always welcome comments and more information about our films.
All posts are reactively checked. Libellous and abusive comments are forbidden.

Add your comment