21.05.2014 - Ghana’s $450 million petroleum funds rated high in governance assessment
The natural resource funds that the Ghanaian government uses to manage oil revenues have been adjudged to be relatively well-governed. The Revenue Watch Institute, a New York-based NGO with an office in Accra, in its recently released research, indicated that the Ghana Petroleum Funds met 13 of 16 good governance fundamentals. Researchers concluded that the funds feature clear deposit, withdrawal and investment rules, effective oversight, and other essential attributes of good governance. “Together, the Ghana Stabilisation Fund and the Ghana Heritage Fund manage more than $450 million,” said Emmanuel Kuyole, Africa regional coordinator for Revenue Watch. “Thanks to strong legal provisions, citizens have information on how much is deposited, invested and earned. This transparency is a significant gain. Too much sunshine does not spoil anything.”......................................Full Article: Source
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