The Government of Ghana continues to work toward completing its IMF programme as planned, with improvements recorded in key fiscal indicators. As part of programme transparency requirements, the Auditor-General released an interim audit report outlining outstanding government arrears as of December 31, 2024.
The report currently captures approximately GH₵90 billion in arrears, equivalent to about 10 percent of GDP. These figures reflect claims that have been verified so far and do not represent the full universe of government obligations.
A significant portion of the arrears, more than two-thirds, relate to the road infrastructure sector. The data shows that arrears are highly concentrated among a small group of contractors. Around 25 companies account for over GH₵50 billion out of roughly 3,000 firms listed in the interim report.
Some claims are still being reviewed. According to the document, over GH₵13 billion has been queried or rejected due to incomplete supporting documentation, and GH₵7 billion remains pending further clarification. Meanwhile, several known arrears have not yet been included, such as obligations linked to Zipline, Lightwave, and certain Agenda 111 contracts. These outstanding items indicate that the arrears position will continue to evolve.
Because many public works in Ghana are pre-financed by contractors using credit facilities from commercial banks, delays in government payments can affect contractor cashflow. This may influence their ability to continue or complete scheduled works until payments resume.
Financial institutions that issue these facilities may also experience increased exposure if arrears remain outstanding over long periods, depending on the structure and timing of repayment arrangements.
Where such delays occur, infrastructure rollout and development timelines may adjust to reflect the pace of arrears clearance and funding availability.
The report also highlights large outstanding commitments and multiple claims linked to similar feeder roads in northern Ghana, including contractors such as Jabass 69 Co. Ltd and Afona Ltd, whose submissions remain under review. Arrears involving joint ventures and Chinese construction entities are also noted, with some of these claims having sections queried by auditors.
The latest review of Ghana’s IMF-supported programme concluded in October 2025. Disbursement remains subject to Executive Board approval and continued fiscal reporting, of which arrears verification is a key component.
“As the audit process continues and more records are validated, contractors, banks, and programme partners are closely tracking developments to gauge the full scope of government arrears.
With the deadline to submit claims and supporting documentation set for November 7, 2025, only two days remain for stakeholders to ensure their arrears are recognized before unvalidated commitments are permanently removed from the official list.
