The Ministry of Finance has addressed recent concerns surrounding Ghana’s settlement agreement with Trafigura, reassuring the public that necessary arrangements have been made to pay off outstanding claims. This clarification comes after a letter circulated on social media, suggesting government inaction on the agreement.
According to the Ministry, several rounds of negotiations have resulted in agreed-upon settlements, and they are surprised by the letter’s circulation. The Government remains committed to honoring its obligations under the Settlement Agreement, aiming to bring this matter to closure.
Trafigura’s Ghana Power Generation Company (GPGC) had previously obtained a final award in its favor against the Government of Ghana in arbitral proceedings in January 2021. However, the Ministry’s latest statement confirms their dedication to resolving the issue.
This development is expected to alleviate concerns and demonstrate Ghana’s commitment to fulfilling its financial obligations. As the country navigates its economic path, timely resolution of such disputes is crucial for maintaining investor confidence and promoting economic growth.
The Ministry’s reassurance is a positive step towards resolving the Trafigura claims, and the Government’s commitment to transparency and accountability is welcomed.
Ruth Abla ADJORLOLO
