News:
July 2, 2025
The Parliament of Ghana has approved an amount of Three hundred and sixty million dollars financing agreement for the implementation of the second resilient recovery development facility with the aim of improving livelihood of Ghanaians and accelerate economic growth and sustainable macroeconomic stability to curb inflation and return the economy to the path of growth in accordance with Article 181 of the 1992 Ghanaian constitution and under order 226 of the standing orders of the Parliament of Ghana.
Deputy Finance Minister Thomas Ampem Darko winding up debate on the approval of the loan, noted that the amount is to support the budget and from the Minority side those who contributed to the debate have indicated that the term to the financial facility is favourable.
The facility was negotiated by the previous New Patriotic Party administration in March last year and they access the first tranche of $360m and at the committee level he pointed out the intention of the use of the facility.
“We are going to use it to pay arears; the finance Minister indicated that we inherited an arrears of sixty-seven billion cedis; we programme to pay thirteen billion in this year’s budget, the decision of government is that this financial facility is going to be used to pay part of the arrears”.
And they hope to access another four hundred million in October 2025 same with the payment of arrears, so the good news is that contractors are gong to be paid.
Mr. Thomas Darko further pointed out that the Auditor General has just concluded the auditing of the debt the current John Maham government inherited and is going to be paid for and he understands arears would come to a total of eight billion cedis and the remaining from domestic sources.
Kwaku Sakyi-Danso/Ghanamps.com