$134m judgement debt: I’m not the Finance Minister to make payments – Dame to Kwabena Donkor
Published:
3 months ago
Source:
MyJoyOnline
The Attorney-General has rejected claims of refusing to settle the legal liabilities stemming from a $134 million judgment debt issued against Ghana by a tribunal in the United Kingdom. Godfred Dame says he cannot be blamed, as the responsibility lies with the Finance Minister to make the necessary payments to Trafigura's GPGC. This debt stems from a power purchase agreement between Trafigura's GPGC and the Ghanaian government. The case dates back to January 26, 2021, when a UK tribunal issued a Final Award, asserted that Ghana had breached its contractual obligations by terminating the power purchase agreement with GPGC on February 18, 2018. The tribunal determined that Ghana owed $134,348,661 as an Early Termination Payment, with an interest rate of six months USD LIBOR plus 6%.