
Ghana’s inflation rose to 5.5% in October - GSS
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25th August 2023 10:54:12 AM
1 min readBy: Chris Kodo

Minister of State in charge of the Finance Ministry, Dr. Amin Adam, has stated that government has created an arrears clearance strategy to settle payments due to road contractors for completed work.
He claims that the proposal is a component of the requirements established by the IMF during Ghana's initial review of the current bailout program.
“The plan is a commitment to clear the arrears over a number of years and contractors must be assured that government will remain committed over that period to clear arrears owed them”
“These arrears have been accumulated over several years and if even if a contractor has worked on a project 10 years ago, they are still entitled to be paid and so we should be fair to all that owe and for example if we are negotiating our debts, it is because we want to be able to honor these obligations and arrears side which is also important to find a way to pay them”.
On August 24, 2023, Dr. Amin Adam revealed this in an interview with Joy News' PM Express Business segment.
The Akufo-Addo administration's GH5.9 billion debt to its members has been requested immediately by the Association of Road Contractors Ghana.
They contend that paying arrears is necessary to keep their businesses operating and enable them to pay their creditors.
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