Gov’t to pay GH¢137bn in treasury bills this year – Finance Minister

Government is expected to settle treasury bill maturities totaling GH¢137 billion this year, Finance Minister Dr Cassiel Ato Forson told Parliament during the 2025 Mid-Year Budget Review on July 24, 2025.

Dr Forson said the amount is linked mainly to short-term government securities and forms part of outstanding fiscal obligations.

He also listed GH¢67 billion in arrears and GH¢194 billion in contract-related commitments as liabilities inherited by the current administration.

“We inherited not just a broken economy, but one already drowning in imminent obligations. GH¢137 billion in treasury bill maturities is not a projection; it is a reality we must face in the immediate term,” he said.

Dr Forson stated that the government intends to meet all upcoming maturities as they fall due while gradually reducing the country’s exposure to short-term, high-interest debt.

According to the Finance Minister, Ghana also faces scheduled repayments of GH¢20 billion in 2026, GH¢50.3 billion in 2027, and GH¢45.8 billion in 2028.

Ghana’s treasury market experienced disruptions during the domestic debt exchange programme (DDEP) in 2023, which led to losses for a number of investors, including pensioners.

Dr Forson said the government is not considering default and will continue to meet its obligations. He added that refinancing options remain under consideration but would only be pursued under terms he described as “strategic and negotiated”.