Cabinet has agreed on the kinds of international business transactions that would require parliamentary approval. The decision was taken at a cabinet meeting yesterday. The proposals when sanctioned by Parliament is expected to end situations whereby the courts rule against some transactions because of the lack of parliamentary approval. The most recent of such incidents is the supreme court ruling for Isofoton to refund over 300 thousand dollars paid it by the Government of Ghana in respect of some development projects in the country. Speaking at the daily media briefing at the Presidency today, 28 June, 2013, Information Minister Mahama Ayariga outlined some of the transactions that essentially require parliamentary approval. “The first is any international transaction similar to a loan. The second is public funds such as the consolidated funds which could be used to service the loan either immediately or in future” he said. Mahama Ayariga also spoke about some transactions that should be exempted from the parliamentary approval. “For instance a number of state-owned enterprises established by law should have the capacity to enter into international transactions on their own to the extent that government would not be required to provide any sovereign guarantee or the liability would become that of government” he added.