President John Dramani Mahama
Government of Ghana owes Electricity Company of Ghana (ECG) and power producers over GHC3 billion.
The amount consists of GHC2.2 billion that is owed by Volta River Authority (VRA) to its lenders and a ‘legacy debt’ of GHC728 million owed ECG by government.
The total debt eliminate other monies owed Independent Power Producers (IPPs).
This situation caused the cut in gas supply from Nigeria Gas (N-Gas) to Ghana which recently resulted in the return of the ‘dumsor’.
Seth Terkper Finance Minister revealed these fact and figures at a press conference Monday in Accra, said the debts would be repaid over the next five years.
Mr Seth Terkper said, government of Ghana had reached an agreement with local banks to reorganize the debts of the State Owned Enterprises (SOEs).
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