/ 20 January 2000

GHANA RACES TO RESCUE BANKS

THE Ghanaian government and central bank officials have been in intensive discussions since Monday on the future of the Bank for Housing and Construction and Co-operative Bank, which have been liquidated following heavy losses. The government has, meanwhile, approved a scheme to protect depositors of the two banks. Government Monday closed down the two banks and ordered all customers and staff except branch managers and accountants to stay away.