The President of the Republic, John Dramani Mahama, has announced that the government will soon begin settling arrears owed to contractors across the country for projects executed, starting later this month.
The announcement follows a meeting with members of the Council of State at the Presidency today, July 7, aimed at getting contractors back on-site to resume work on outstanding infrastructure projects.
President Mahama stated that the Ministry of Finance, acting under his direct instructions, has made financial allocations to cover a substantial portion of the debt owed to contractors.
He emphasised that the gradual settlement of these outstanding payments will significantly help revive many stalled projects across the country, which were affected by the liquidity challenges stemming from the Domestic Debt Exchange programme under the previous administration.
“My administration has decided to release funds from the Consolidated Fund to offset a significant portion of the government’s indebtedness to contractors working on various public projects,” he said.
“This policy directive, issued to the Ministry of Finance, led by Cassiel Ato Forson, is intended to provide relief to our patriotic contractors and enable them to mobilise their workforce to complete all pending works.”
The planned payments form a core part of the government’s broader commitment to prioritise infrastructure investments as a pillar of its economic recovery strategy.
Further details on the payment arrangements and related initiatives are expected to be outlined in the upcoming Mid-Year Budget Review, which will be presented to Parliament in the coming weeks. The review will also assess the Mahama administration’s performance over the past six months.
President Mahama also assured the Council of State of his willingness to engage them further on all upcoming government policies and programmes, especially as the Finance Minister prepares to present the government’s economic outlook for the remainder of the year.
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Story by Sika Togoh |univers.ug.edu.gh
