Tuesday, 03 July 2007

IMF advises Ghana to use oil income cautiously

(Reuters) - Ghana should ensure future income from newly-discovered oil improves living standards in the West African country and does not fuel inflation or upset the stable economy, the International Monetary Fund said on Tuesday.

London-based Tullow Oil said last month it had found up to 600 million barrels of oil in Ghana's West Cape Three Points offshore block, which is co-owned with Texas-based Anadarko Petroleum and operated by Kosmos Energy of Dallas.


Read more at Reuters Africa

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