IPPs reject US$$1.3bn government debt restructuring proposal

Independent Power Producers (IPPs) have rejected any idea of re structuring 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 ows.

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 arrears in the next three weeks to enable its members meet their debt obligations and sustain the production of electricity.

“We emphasise that our members reject any notion of restructuring their arrears/claims as part of the ongoing or any future debt restructuring program. Our members are prepared to engage with government on payment schedules with regard to the arrears and other claims under the respective PAs, in order to promote predictability of