Ghana power producers threaten to walk away from debt talks

Ghana's private power producers have threaten to exit negotiations to restructure $1.6 billion in arrears due to the government's failure to uphold payment agreements.

Elikplim Apetorgbor, CEO of Independent Power Generators Ghana, stated that despite producers agreeing to financial concessions, the government has only paid $400 million by December and is behind on current payments.

The Electricity Company of Ghana, expected to stay current on payments from June 2023, has only paid 70% of monthly bills, dropping to 21% in recent months.

This impasse risks derailing Ghana's broader debt restructuring efforts under a $45 billion IMF program.