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Ghana Rakes In $69 Million In Oil Revenue
 
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16-Mar-2012  
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The Bank of Ghana[BoG]has announced that the country’s total savings from oil revenues have reached $69 million dollars.

This is contained in a report published on the central bank’s website.

According to the report, about $14.4 million dollars has accumulated in the heritage fund which is meant for future generations.

Meanwhile the stabilization fund which is meant to cushion the country in times price volatility has accrued $58 million dollars.

These are monies from three crude oil liftings from the jubilee field even though there were a total of four liftings last year worth about $444million dollars.

The bank of Ghana says the stabilization fund was invested in a three-month instrument and made returns worth $32,471, while the heritage fund, which was invested for six months yielded $39,207.
 
 
 
Source: Citifmonline.com
 
 

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