Contractor Arrears to Be Cleared Within Four Years — Ato Forson
Finance Minister outlines phased payment plan to settle GH₵68 billion owed to contractors and creditors
- Government inherited GH₵68 billion in arrears, contributing to a 3.9% fiscal deficit
- Finance Minister Ato Forson plans phased payments over four years, starting with GH₵25 billion in 2026
- All claims are being audited to ensure a transparent and sustainable settlement process
Finance Minister Dr. Cassiel Ato Forson has defended the government’s strategy for clearing outstanding arrears owed to contractors and other creditors, emphasizing that the administration is committed to a sustainable and transparent process.
Speaking in an interview on November 14, 2025, Dr. Forson said the government inherited GH₵68 billion in arrears, which contributed significantly to a fiscal deficit of 3.9% of GDP. He stressed that paying the full amount in a single year would have been impossible without destabilizing the economy.
“The government cannot pay GH₵68 billion in one year. The first step was to audit all claims to validate them and determine a proper payment strategy. In the 2025 budget, I programmed GH₵13.8 billion for arrears,” he explained.
According to Dr. Forson, about GH₵12 billion has already been disbursed, leaving GH₵1.8 billion to complete the 2025 allocations. The 2026 budget has earmarked GH₵25 billion for payments, with the remainder scheduled for 2027 and 2028.
“I believe within four years, we should be able to pay all the arrears,” he added. “If I pay this year as planned, by next year, about GH₵17 billion will remain to be cleared.”
Dr. Forson presented the 2026 Budget Statement in Parliament on Thursday, November 13, under the theme “Resetting for Growth, Jobs, and Economic Transformation.”
