Accra, March 16, GNA - President John Agyekum Kufuor is confident about the positive outlook of the country's economy as the annual inflation rate dropped from 14.6 per cent in January, to 12.1 per cent in February 2006, his Press Secretary, Mr Kwabena Agyepong told a Castle briefing on Thursday. The prime rate of the Bank of Ghana (BOG) had gone down from 15.5 per cent to 14.5 per cent while credit to the private sector had grown to 27 per cent.

Mr Agyepong said these figures were coming from the Ghana Statistical Service, the Monetary Policy Committee of the Bank of Ghana (BoG) and the Institute of Statistical, Social and Economic Research (ISSER) and wondered why anybody could accuse the Government of lying about the state of the economy. He said it was expected that the rates would go down further, adding; "the time is right for the entrepreneurial spirit of the people to be released". Mr Agyepong also reacted to media reports that the President had rejected the nomination of Professor Kwesi Yankah as Vice Chancellor of the University of Ghana, Legon, by the University Council and said this was untrue. "The appointment of the Vice Chancellor of the country's premier University is not on the table of the President". Professor Yankah, he said, was someone, President Kufuor had utmost respect for.

Another issue he touched on was the National Reconciliation Commission's (NRC) Report and said the President had directed the Attorney-General and Minister of Justice to make a statement to Parliament on the Report. This would lead to the publication of the recommendations of the Commission. The institution of the National Awards Day, to recognize and present national honours to Ghanaians, who have distinguished themselves in various ways in the service of the country, also came up during the briefing. Mr Agyepong said the date for the maiden edition would soon be announced.