Dr. Mohammed Amin Adam, Finance Minister
The Ministry of Finance has issued a statement clarifying its position on the Settlement Agreement with Trafigura, a Singaporean oil firm, following a leaked letter that suggested inaction on the government’s part.
The letter, dated September 24, 2024, referenced ongoing negotiations to settle outstanding claims.
According to the Ministry, necessary arrangements have been made to pay off the outstanding claims agreed upon with Trafigura after multiple rounds of negotiations.
The Finance Ministry expressed surprise at the letter’s circulation on social media, emphasising its commitment to honouring obligations under the Settlement Agreement.
Background
The dispute stems from a terminated Power Purchase Agreement signed in 2015 during the National Democratic Congress  (NDC) administration.
Trafigura’s subsidiary, Ghana Power Generation Company (GPGC), sought arbitration and secured a $134 million judgement debt against Ghana in 2021.
Government’s Commitment
The ministry reassured that it remains dedicated to resolving the matter, ensuring that the country’s assets are protected from seizure.
By Ernest Kofi Adu