The Deputy Director of Communications at the Office of the Vice President of the Republic, Mr. Maxwell Krobea Asante has given some justifications to the whopping 137 million United States dollars judgment debt that has been slapped on the country.
Ghana will be making a payment of 137 million USD as judgment debt to Ghana Power General Company Ltd after a deal, Emergency Purchase Agreement (EPA) which was signed between the government of Ghana and the company was abrogated.
The contract was reached and signed under the erstwhile John Dramani Mahama’s administration in 2015 but was canceled in 2018 by the Akufo Addo government on grounds that the GPGC’s failed to reach financial close or to achieve Full Commercial Operation Date and also that the GPGC failed to obtain a license from the country’s Energy Commission to engage in business or commercial activity for the sale of electricity.
However, for Mr. Maxwell, the judgment debt to be paid by the state should not be something that Ghanaians will worry about.
According to him, the cancellation of the agreement by the then Energy Minister, Mr. Boakye Agyarko in 2018 is in the interest of the country as it saves the country an amount of more than US$ 400 million.
“If abrogating a deal will save you $400 million-plus coins and you are fined $146 million for the abrogation cum few interest attached to it then it is better that way,” he wrote this in a facebook post on his wall.