The Ministry of Finance (MoF) has reiterated its dedication to settling the outstanding claims with Trafigura, addressing recent media reports suggesting delays in executing the settlement agreement.
This comes on the back of a process initiated in South Africa by Trafigura for the enforcement of arbitrary awards against the Government of Ghana.
“Further to our letter of September 20th 2024, to which we have not yet received a response, we can confirm that we have today filed the relevant papers to commence enforcement of the arbitral award in South Africa.
“We would nevertheless like to reiterate the message of our previous correspondence, that we would prefer not to take any further enforcement action and instead to resolve the matter amicably by fully executing the settlement agreement, as soon as possible, ideally within this week, and receiving payment in accordance with the agreed schedule,” the company’s letter to the minister read in part.
However, in a press release dated Tuesday, September 24, 2024, the Ministry responded to a letter circulating on social media, which raised concerns over the government’s handling of its obligations to Trafigura.
“It has come to our attention that a letter received today is circulating in the media creating the impression of the government’s inaction on a yet-to-be executed Settlement Agreement,” the Ministry stated.
The Ministry highlighted that significant progress had been made, with the necessary steps already taken to settle the claims. “We have made the necessary arrangements to pay off the outstanding claims agreed with Trafigura after several rounds of negotiations,” the statement read.
Reaffirming its commitment, the Ministry assured that, “The Government of Ghana remains committed to honoring its obligations under the Settlement Agreement with Trafigura with the view to bring this matter to closure.”
Source: Ghana/Starrfm.com.gh/103.5FM/Mary Asantewaa Buabeng
