The Government of Ghana has listed a number of projects that it calls the priority projects.
The projects, numbering 24, have been submitted to the IMF and the OCC.
The Finance Minister, who made this known while presenting the mid-year budget review, said the list was reached after an extensive engagement.
He said, “Ghana’s default on its external debt service obligation on 19th December 2022, and creditors halted disbursements of 55 bilateral projects. This resulted in several uncompleted projects scattered across the country and leaving a massive amount of $3 billion in undisbursed loans.
Adding that “the IMF and Official Creditor Committee annual disbursement ceiling of $250 million for official bilateral loans implies that it will take a minimum of 12 years to fully draw down on the undisbursed loans. Under the MoU with the official creditor committee, the Government of Ghana was required to submit a priority list to accommodate $250 million annual disbursement ceiling”.
