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IPPs reject US$1.3bn government debt restructuring proposal

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Independent Power Producers (IPPs) have rejected any idea of restructuring arrears of its members as part of the ongoing or any future debt restructuring programme. In a letter to the Finance Minister, Ken Ofori-Atta, it said its members are rather prepared to engage with the government on payment schedules with regard to the arrears and other claims under the respective Power Agreements (PAs), in order to promote predictability of payment flows. The government is said to owe the IPPs more than $1.4 billion dollars as of February 2023. The IPPs advised the government to prioritize and make payments of the...
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