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Samuel Okudzeto Ablakwa, Ghana’s minister of foreign affairs, has expressed grave concerns about the country’s growing debt crisis and how it may affect its foreign ministry and international commitments.
Speaking on Friday, February 28 on Joy FM’s Super Morning Show, Mr. Ablakwa described the nation’s debt situation as “frightening” and the substantial financial obstacles the government faces in resolving arrears, especially with regard to its foreign debt.
According to Mr. Ablakwa, the Foreign Ministry has been severely impacted by the nation’s financial difficulties, with GH₵453 million in outstanding arrears.
He clarified that unpaid access contributions to international organizations including the United Nations (UN), the African Union (AU), and ECOWAS are mostly to blame for this debt.
Annual payments are required for these contributions, which are essential to Ghana’s active involvement in global projects and diplomacy.
“The debt situation is really frightening; the foreign ministry was not left out. I have also met colossal arrears of about GH₵453 million. Largely, our access contributions to international organizations we belong to and a number of projects started that have not been paid for,” he added.
In addition, he clarified that these unpaid payments pose a serious risk to the nation’s status and connections within these international organizations.
The gravity of the situation was emphasized by Mr. Ablakwa, who explained that Ghana has significant arrears to pay and that big projects are being put on hold as a result.
According to him, in order to manage the nation’s financial obligations, major cuts had to be made to a number of projects when creating the 2025 national budget.
Source: Ghanatodayonline.com
