Akufo-Addo Gov’t Has Saddled Ghana So Far With Ghc1.7Billion Judgment Debt

Following the outbreak of judgment debts as a result of losses of court cases relating to the government’s vandalism of State contracts and properties of private individuals, concerned Ghanaians have been counting the cost assaulted on the national purse which amounts to a whopping GHC 1.7 billion. 

For many calculators, the US$170million that was awarded the Ghana Power Generation Company (GPGC) by a London Commercial Court over the government’s illegal abrogation of its power agreement with the country, and the US$78million judgment awarded the West Africa Gas Limited (BVI) by the London Court of International Arbitration (LCIA) are the most significant.

Then there is the US$55million that was awarded against Ghana over the abrogation of the Accra Intelligent Traffic Management Project contract with Chinese Company, Beijing Everywhere in 2020. Following the government’s controversial decision to burn excavators seized from illegal miners, resultant lawsuits ended in a US$15million judgment debt against Ghana.

A summation of all these judgment debts amounts to US$ $318million with an exchange rate bringing the total to GHC 1.8 billion in the local currency.

Yet, President Akufo Addo recently went cap-in-hand begging the European Union for US$ 170 million so that the country can open a development bank.

This record makes the Akufo-Addo government be the highest causer of judgment debts for Ghana.

And more judgment debts are coming up, from the government’s wanton vandalism of power agreements and other non-power contracts.