Pay or face court action...Ministry of Finance warns loan defaulters

The Ministry of Finance has threatened to take legal action to retrieve monies from all enterprises which have defaulted in loan payment if after Wednesday, December 31, 1997, no settlement is made.

The Ministry of Finance has threatened to take legal action to retrieve monies from all enterprises which have defaulted in loan payment if after Wednesday, December 31, 1997, no settlement is made. A statement issued in Accra by the ministry said at least one-third of the outstanding amount should be paid by the specified date. The statement signed by the Chief Director of the ministry, Mr Kofi Opoku-Manu, said: "The ministry will instruct its approved debt collecting firms to commence legal action against all defaulting enterprises.