Loans for projects were diverted to buy cars and host conferences - Ato Forson reveals

The Minister of Finance, Dr Cassiel Ato Forson, has defended his ministry’s decision to halt disbursements to certain government projects.

According to him, an internal review uncovered loan funds being diverted to vehicles and conferences rather than the projects approved by Parliament under the Akufo-Addo-Bawumia administration.

Speaking on the Citi Breakfast Show on Friday, July 24, 2026, Dr Forson said the discovery was made shortly after he assumed office.

“Loans contracted and approved by Parliament for specific projects had largely not been used for their core mandate. It was used to buy cars and for conferences,” he stated.

The minister explained that the findings compelled him to suspend further disbursements until his ministry could verify how the funds were being spent.

While the core work on the affected projects was ready to proceed, he said he could not authorise payments while consultancy fees and foreign conference travel were being charged against loan facilities that the state must eventually repay.

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“I cannot sit down when there’s been payment for consultancy, travel abroad for conferences, and they have loans. For God’s sake, you will pay back. For God’s sake, you are going to borrow,” he stressed.

Dr Forson framed the Finance Ministry’s role as a gatekeeper over government borrowing, noting that other ministries require its authorisation before committing the state to any form of debt.

SA