{"id":514806,"date":"2026-04-05T20:53:10","date_gmt":"2026-04-05T20:53:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/514806\/"},"modified":"2026-04-05T20:53:10","modified_gmt":"2026-04-05T20:53:10","slug":"mahama-announces-progress-on-1-7-billion-ipps-debt-restructuring","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/514806\/","title":{"rendered":"Mahama announces progress on $1.7 billion IPPs debt restructuring"},"content":{"rendered":"

\"John <\/a>John Dramani Mahama is the President of the Republic of Ghana<\/p>\n

President John Dramani Mahama<\/a> has shed light on his administration’s efforts to ease the financial burden on Ghana\u2019s energy sector, revealing progress in restructuring and settling a $1.7 billion debt owed to Independent Power Producers (IPPs).<\/p>\n

Speaking on the second day of the Kwahu Business Forum on Saturday, April 4, 2026, the president acknowledged that the massive, dollar-denominated debt was one of the biggest challenges his government inherited.<\/p>\n

\u201cWhen we came into office, we had a debt overhang of about $1.7 billion owed to the Independent Power Producers,\u201d he said.<\/p>\n

He explained that rather than allowing the situation to worsen, the government opened negotiations with the power producer stakeholders that required compromise on all sides.<\/p>\n

According to him, the IPPs agreed to absorb part of the burden as Ghana undertook broader debt restructuring measures.<\/p>\n

\u201cSince Ghanaians were all taking haircuts from the debt restructuring, we told them they also must take haircuts\u2026 and they agreed\u2026 it amounted to about twenty per cent of what was owed,\u201d he said.<\/p>\n

Following the agreement, the government moved quickly to implement a repayment plan, beginning with upfront payments and setting clear timelines for settling the remaining balance.<\/p>\n

\u201cIf they signed on to it, we gave them an immediate down payment, and we gave them the dates for the subsequent payment,\u201d he added.<\/p>\n

But beyond clearing past debts, President Mahama pointed to what he described as a more meaningful shift in this administration\u2019s ability to stay current on new bills from power producers.<\/p>\n

\u201cThe best announcement is that we are keeping up with their present-day bills\u2026 any bill they submit every month, we pay them for the electricity they produce,\u201d he emphasised.<\/p>\n

He further noted that this renewed commitment to timely payments is helping rebuild confidence in the sector, strengthening ties with power producers, and ensuring a more reliable electricity supply for Ghanaians.<\/p>\n

NA\/AE<\/p>\n","protected":false},"excerpt":{"rendered":"John Dramani Mahama is the President of the Republic of Ghana President John Dramani Mahama has shed light…\n","protected":false},"author":2,"featured_media":514807,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-514806","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/514806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=514806"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/514806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/514807"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=514806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=514806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=514806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}