Minister of Finance, Dr Cassiel Ato Forson
The Minister of Finance, Dr Cassiel Ato Forson, has announced that the government intends to clear all arrears owed to contractors within four years.
According to him, the government inherited a backlog of arrears amounting to GH¢68 billion, which has significantly contributed to Ghana’s fiscal deficit of 3.9% of GDP.
Speaking on the Citi Breakfast Show, as monitored by GhanaWeb Business on November 14, 2025, Dr Ato Forson emphasised that making full payment in a single year would have dire consequences for the broader economy.
He explained that this is why the government is implementing a phased approach to settle all outstanding arrears.
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“We inherited GH¢68 billion, and that is what gave us the fiscal deficit of 3.9% of GDP. The government cannot pay GH¢68 billion in one year. So, first I needed to subject these claims to an audit to validate them and determine the strategy I would use to clear the arrears. In doing so, in the 2025 budget, I programmed GH¢13.8 billion for arrears payments,” he said.
He further explained that the first step taken by the government was to subject all claims to a comprehensive audit to ensure their validity before deciding on an appropriate payment strategy.
“So far, I have paid about GH¢12 billion, leaving approximately GH¢1.8 billion outstanding. I cannot exceed the GH¢13.8 billion approved by Parliament. In the 2026 budget, I programmed GH¢25 billion, which I will pay, and then settle the remainder in 2027 and possibly 2028. I believe that within four years, I should be able to clear all the arrears,” he added.
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