By: Ashiadey Dotse
Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, has met with the Group CEO of Ecobank, Mr. Jeremy Awori, to discuss ways the bank can support the country’s economic recovery.
In a Facebook post on 22nd May, 2025, Dr. Forson described the meeting as “constructive,” highlighting the government’s commitment to resolving financial challenges and improving economic management.
One major issue discussed was the government’s progress in clearing outstanding payments owed to contractors. Dr. Forson revealed that the government inherited over GH¢67 billion in arrears, which are currently being audited.
He said the Auditor-General is expected to submit an interim report soon, after which verified payments will begin.
“We have allocated GH¢13 billion in the 2025 Budget to tackle this challenge,” Dr. Forson said, adding that the government is committed to not creating new arrears.
He also noted that reforms are ongoing to improve financial discipline. These include changes to the Public Financial Management Act, aimed at ensuring transparency in public spending and contract management.
Dr. Forson encouraged Ecobank to increase its support for the private sector, especially in agriculture, as part of broader efforts to strengthen the economy.
