Managing National Liabilities with Fifty Strategic Payments Under Finance Minister Cassiel Ato Forson

Ghana is actively navigating its economic recovery by aggressively honoring its financial commitments both locally and internationally. Under the leadership of Finance Minister Dr Cassiel Ato Forson, the National Democratic Congress administration has prioritized clearing outstanding obligations to restore investor confidence and stabilize the economy.

The state has successfully executed critical disbursements to energy suppliers, domestic bondholders, and statutory funds to foster long-term fiscal discipline. The verified record highlights fifty significant debt categories managed by the current ministry.

1. US$349.52 million Eurobond payment (January 2025)
2. US$349.52 million Eurobond payment (July 2025)
3. US$709 million Eurobond payment (December 2025)
4. US$475.6 million first post-restructuring Eurobond payment
5. Settlement of outstanding Eurobond arrears
6. Payment of restructured Eurobond obligations
7. Settlement of sovereign bond interest arrears
8. Payment of external commercial creditor obligations
9. Settlement of bondholder claims
10. Servicing of Ghana’s external debt restructuring commitments
11. US$597.15 million repayment under the World Bank guarantee facility
12. US$480 million payment to ENI/Vitol under the Sankofa Gas Project
13. US$393 million payment to Independent Power Producers (IPPs)
14. US$120 million payment to Karpowership
15. US$59.4 million payment to Cenpower Generation
16. Settlement of gas supply arrears
17. Settlement of power purchase obligations
18. Payment of thermal generation capacity charges
19. Settlement of ECG legacy liabilities
20. Settlement of Volta River Authority obligations
21. Payment of gas transportation charges
22. Settlement of electricity transmission arrears
23. Payment of energy sector financing shortfalls
24. Settlement of legacy energy debts
25. Payment of obligations owed to international energy suppliers
26. Settlement of take-or-pay gas liabilities
27. Payment of fuel supply obligations
28. Settlement of electricity generation arrears
29. Payment of outstanding energy guarantees
30. Settlement of accumulated energy sector penalties
31. Payment of all outstanding DDEP holdout obligations
32. Payment of DDEP coupon obligations
33. Settlement of matured domestic bond obligations
34. Payment of Treasury bill maturities
35. Payment of domestic interest obligations
36. Settlement of inherited domestic debt arrears
37. Payment of pension-related obligations
38. Clearance of outstanding SSNIT arrears
39. Payment of current statutory contributions
40. Settlement of delayed statutory payments
41. Payment of verified contractor arrears
42. Settlement of road contractor claims
43. Payment of audited supplier arrears
44. Settlement of validated ministry obligations
45. Payment of inherited procurement debts
46. Settlement of state institution arrears
47. Payment of selected education sector arrears
48. Settlement of health sector obligations
49. Payment of local government arrears
50. Settlement of verified legacy government commitments

The total publicly disclosed debt payments equal approximately US$3.53 billion. This systematic approach demonstrates the government’s strong commitment to transparency while reducing commercial losses and rebuilding the local marketplace.

Also Read: Why Finance Minister Ato Forson Predicts Inflation Below 5% in 2026