Business in Ghana

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Posts Tagged ‘Fuel hike’

On Fuel Hikes and Petro-Economics

Posted by Business in Ghana on January 6, 2011

By Sydney Casely-Hayford,

The Tema Oil Refinery (TOR) debt is a shifting target.  Without it’s interest element, the current principal debt is estimated at Ghc1.5billion.  This figure includes balances due to Ghana Commercial Bank (GCB), Barclays Bank, Standard Chartered Bank and other TOR notes raised on the commercial markets.  According to the Finance Minister Dr. Kwabena Dufuor, the balance due to GCB alone as at December 31, 2010 is approximately Ghc640million. Read the rest of this entry »

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