{"id":97338,"date":"2025-03-11T15:46:20","date_gmt":"2025-03-11T15:46:20","guid":{"rendered":"https:\/\/www.sweetmelodiesfm.com\/?p=97338"},"modified":"2025-03-11T15:46:25","modified_gmt":"2025-03-11T15:46:25","slug":"government-to-complete-55-stalled-projects-in-12-years-finance-minister","status":"publish","type":"post","link":"https:\/\/www.sweetmelodiesfm.com\/government-to-complete-55-stalled-projects-in-12-years-finance-minister\/","title":{"rendered":"Government to complete 55 stalled projects in 12 years- Finance Minister\u00a0\u00a0"},"content":{"rendered":"\n<p class=\"\">Dr Cassiel Ato Forson, the Minister of Finance, has disclosed that the bilateral creditor debt restructuring undertaken by the previous administration has forced 55 critical projects to come to a halt.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">This has left approximately US$3 billion in undisbursed loans and US$300 million in outstanding interim payment certificates (IPCs) unpaid.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">The Minister said this in Parliament during the presentation of the 2025 Budget on Tuesday.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">Among the affected projects are the Effia Nkwanta Regional Hospital, Kejetia Market Phase II, Bolgatanga-Bawku Road Project, and the Tema-Aflao Road Project.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">Dr Forson said that delayed payments and contractor demobilisation from project sites could result in cost overruns of about US$1.1 billion.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">The finance minister explained that the International Monetary Fund (IMF)-supported programme imposes an annual disbursement ceiling of US$250 million for official bilateral loans.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">This constraint, he noted, means it would take a minimum of 12 years from the recommencement of disbursements to complete the 55 stalled projects.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">Dr Forson emphasised the severity of the situation, stating that the Government was committed to engaging relevant stakeholders to address the challenge.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"\">However, the 12-year timeline underscores the long-term impact of the debt restructuring on Ghana\u2019s infrastructure development and economic growth.&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dr Cassiel Ato Forson, the Minister of Finance, has disclosed that the bilateral creditor debt restructuring undertaken by the previous administration has forced 55 critical projects to come to a halt.&nbsp;&nbsp; This has left approximately US$3 billion in undisbursed loans and US$300 million in outstanding interim payment certificates (IPCs) unpaid.&nbsp;&nbsp; The Minister said this in [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":97340,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1053,15665,1226,625],"tags":[16785,885,1228,1578,934],"class_list":{"0":"post-97338","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"category-featured","9":"category-features","10":"category-news","11":"tag-2025-budget","12":"tag-economy","13":"tag-features","14":"tag-ghana","15":"tag-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Government to complete 55 stalled projects in 12 years- Finance Minister\u00a0\u00a0 - Sweet Melodies FM<\/title>\n<meta name=\"description\" content=\"Sweet Melodies FM Government to complete 55 stalled projects in 12 years- Finance Minister\u00a0\u00a0 Economy\" \/>\n<meta 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