Finance Minister Dr. Cassiel Ato Forson has revealed that 55 projects have come to a standstill due to the bilateral creditor debt restructuring undertaken by the previous administration.

Presenting the 2025 Budget in Parliament on Tuesday, Dr. Forson stated that the stalled projects leave about "US$3 billion in undisbursed loans and approximately US$300 million in outstanding interim payment certificates (IPCs).”

“Mr. Speaker, due to the bilateral creditor debt restructuring, a staggering number of 55 projects have halted, he stated.

Among the affected projects are the Effia Nkwanta Regional Hospital, Kejetia Market Phase 2, the Bolgatanga-Bawku-Pulimakom road project, and the Tema-Aflao road project.

Dr. Forson warned that delayed payments and demobilisation from project sites could lead to cost overruns of around US$1.1 billion.

He also highlighted constraints under the International Monetary Fund-supported programme, which imposes an annual disbursement ceiling of US$250 million for official bilateral loans. “This limitation means that it will take a minimum of 12 years from the recommencement of disbursements to complete these stalled projects,” he cautioned.

The Finance Minister assured Parliament that engagements would be done in the coming days to address the situation.