Finance Minister, Ken Ofori-Atta has advocated for a re-look at the controversial Agyapa Royalties Agreement, instead of abandoning it.
Mr. Ofori-Atta said the deal must be taken through the appropriate process in order to make it work because it could reduce the country’s debt exposure.
Speaking during a press briefing to announce details of the African Development Bank 2022 Annual General Meeting on Thursday, the Finance Minister explained that the Agyapa deal “is not about whether the monetisation of mineral royalties or listing of the company is bad or good, it is good because that is how you raise resources.”
“The question is the process of doing that. If we have a problem with the process, let’s articulate it, let’s cure it, but let us not drop something that would be good for us and reduce our debt exposure,” he said.
He said the focus of discussions on the deal should rather be on how best it can be done as opposed to ignoring it completely.
“My mind is still there. I know the President has mentioned something about that,” Ken Ofori-Atta said.
Government in October last year disclosed its intention to re-submit a restructured Agyapa Royalties Agreement to Parliament for approval.
Finance Minister, Ken Ofori-Atta, at the inauguration of a newly appointed Board of Minerals Income Investment Fund in Accra on Tuesday, October 12, 2021, stated that the deal has been repackaged to inure to the benefit of the state.
Meanwhile, the Minority in Parliament has said it will oppose the Agyapa Royalties Agreement should it resurface in Parliament.