Finance Minister Dr. Cassiel Ato Forson has revealed that completing 55 stalled projects left by the previous government will take at least 12 years due to constraints from the IMF-supported program and bilateral creditor debt restructuring.
Speaking during the presentation of the 2025 Budget Statement in Parliament on Tuesday, March 11, Dr. Forson explained that the debt restructuring process has created a heavy financial burden, leaving about $3 billion in undisbursed loans and approximately $300 million in unpaid bills and outstanding interim payment certificates (IPCs).
These financial challenges have led to the suspension of several critical infrastructure projects across the country, including the Effia Nkwanta Regional Hospital, Kejetia Market Phase 2, the Bolgatanga-Bawku-Pulimakom Road Project, and the Tema-Aflao Road Project.
“Mr. Speaker, the IMF-supported Programme imposes an annual disbursement ceiling of US$250 million for official bilateral loans.
“This constraint means that it will take a minimum of 12 years from the recommencement of disbursements to complete these 55 stalled projects. We will be engaging, in the coming days, to resolve this,” he stated.
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