The Ghanaian government has initiated formal negotiations with the Dutch commodities trading company Trafigura Beheer BV to resolve a $140 million judgement.
The judgement was handed down by an arbitration tribunal in Amsterdam over the termination of a contract between the government and the company.
The judgement had been pending since 2017, when the arbitration tribunal ruled in favor of Trafigura and ordered the government to pay the $140 million in damages and interest.
The government has since appealed the judgement, but the court of appeal in Amsterdam has yet to rule on the matter.
In the meantime, the government has decided to engage in formal negotiations with Trafigura to reach an amicable resolution of the dispute.
The government has appointed a team of negotiators and lawyers to take part in the talks, and the negotiations are expected to begin in the coming weeks.
The government is hopeful that the negotiations will result in an agreement that is mutually beneficial to both parties. If an agreement is reached, it could be used to set a precedent for similar disputes in the future.