Fifty-five development projects have come to a halt due to the bilateral creditor debt restructuring undertaken by the Akufo-Addo administration, Minister for Finance, Dr. Cassiel Ato Forson, has disclosed.
Reading the 2025 Budget Statement and Economic Policy to Parliament in Accra on Tuesday, Ato Forson said the stalled projects had resulted in a massive US$3 billion in undisbursed loans and US$300 million in outstanding interim payment certificates (IPCs).
Some of the affected projects, he mentioned, included the Effia Nkwanta Regional Hospital, Kejetia Market Phase 2, Bolgatanga-Bawku-Pulimakom road project, and Tema-Aflao road project.
Dr. Cassiel Ato Forson warned that delayed payments and demobilization from site could result in cost over-runs of about US$1.1 billion.
He explained that the IMF-supported Programme imposes an annual disbursement ceiling of US$250 million for official bilateral loans, which means that it will take a minimum of 12 years from the re-commencement of disbursements to complete these 55 stalled projects.
Ato Forson assured that the government would engage with stakeholders in the coming days to resolve the issue.
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