Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has revealed that 55 government projects have stalled due to the country’s bilateral creditor debt restructuring undertaken by the previous administration.
Presenting the 2025 Budget Statement in Parliament yesterday, Dr. Forson stated that the suspension of these projects has left $3 billion in undisbursed loans and $300 million in outstanding interim payment certificates (IPCs).
Among the affected projects are the Effia Nkwanta Regional Hospital, Kejetia Market Phase 2, Bolgatanga-Bawku-Pulimakom Road, and Tema-Aflao Road. The minister warned that delayed payments and demobilization from sites could lead to cost overruns of approximately $1.1 billion.
Dr. Forson also highlighted the constraints of the IMF-supported programme, which caps annual disbursements for official bilateral loans at $250 million. He noted that under these conditions, it could take at least 12 years to complete the stalled projects.
“We will be engaging, in the coming days, to resolve this,” he assured Parliament.
The government’s next steps in addressing these financial challenges will be closely watched, particularly as critical infrastructure projects remain in limbo.
Source: A1Radioonline.com|101.1Mhz|Mark Kwasi Ahumah Smith|Ghana
