President Nana Akufo-Addo says all statutory debt accrued under the Mahama administration has been paid.
He said in his government’s bid to improve the microeconomic fundamentals, debts owed contractors and other people who have done work for the state are being paid.
Speaking at a media encounter at the Flagstaff House Wednesday to mark his one year in office, the President said in 2017 nearly GH¢1 billion was paid to road contractors.
“Government provided over GH¢300 million and the Road Fund provided GH¢660 million,” he said.
He added that by so doing, GH¢1 billion out of the GH¢1.6 billion owed road contractors was cleared.
“In January this year, we have disbursed out of a reminder of GH¢600 million to the contractors. Additionally, we have paid GH¢826 million of the GH¢1.6 million of the loan contracted by the previous administration for which the Road Fund was used as a collateral,” he told the press.
According to the President, the government has been able to transfer GH¢3.1 billion of tier two pension funds into the custodial account of the labour unions.
These funds have been outstanding for six years and labour unions have been on a warpath with the government over it for some time now.
He also pointed out that other debts like those owed to the National Health Insurance Scheme (NHIS), District Assemblies Common Fund and the GETFund have been cleared.
President Akufo-Addo said salary arrears owed to teachers which were recently settled was accrued from 2013 – 2016, has also been settled.
“The regiment we have in place now is to pay government bills as they come due and not accrue arrears,” he stressed.
He said his government is resisting the temptation to award contracts when funds are not available to pay for the certificates as they come up.