- Nana Addo has revealed plans to fully pay all debts in Ghana’s energy sector
- Ghana is currently owing in excess of 2.4 billion cedis in the sector
President of the republic, Nana Addo Danquah Akufo-Addo says he is doing everything in his government’s power to ensure that they pay all energy sector debts.
Addressing the Ghanaian community in Zambia, the president revealed that government is putting in place structures and policies to ensure that the 2.4 billion cedis debt is refinanced once and for all.
“The debt of some 2.4 billion dollars in our Energy Sector is making it difficult to attract investment into the Energy sector. This is not allowing us to retool and recapitalize our facilities and therefore once again, solving this financial problem is a very acute problem for us,” the president revealed.
Ghana’s energy sector debt is feared to have resulted in the interruption of gas supply especially from N-GAS and the West African Gas Pipeline – a development which is feared to have the potential to worsen Ghana’s energy’s prospects especially now when the country is ridden with huge public debts.
Meanwhile, the NPP administration is been criticized by the opposition NDC for securing over 10 billion dollars from the Chinese government as part of efforts to make the one-district-one-factory policy come to light. But the vice president, Mahamudu Bawumia has maintained that the Chinese credit facility will not in any way affect Ghana’s economic fortunes.
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