AFRICAN CATERING SERVICES. vs. THE ATTORNEY GENERAL

i. Background: [1] This decision is about the Defendant’s position that the Plaintiff ought to have used the United States Dollar interest rate to compute accrued interest when it filed the Entry of Judgment in this matter because the transaction was contracted in the US Dollar. In my respectful opinion it is only appropriate that I reiterate and re-state parts of my ruling dated January 10, 2019 in respect of this case which has been on-going for some time now. As stated in that ruling; this Court differently constituted on September 11, 2014 entered judgment in terms of the following orders in favour of the Plaintiff as follows: “1. That the Plaintiff recover from the Defendant the sum of USD$297,000.00 or its Cedi equivalent being GH₵1,098,900.00 (at the rate of GH₵3.70 = 1 USD which is the forex bureau rate). 2. Interest on the GH₵1,098,900.00 at the prevailing commercial lending rate of 32% per annum from the 3rd October 2008 till the date of final payment being GH₵...