President John Dramani Mahama has drawn attention to the financial consequences of stalled projects across Ghana, emphasizing the urgent need for action.

Delivering his first State of the Nation Address in Parliament on Thursday, February 27, he revealed that a total of 55 projects remain incomplete due to debt defaults and subsequent restructuring.

“Currently, there are 55 stalled projects due to the default of debts and subsequent restructuring, with a total value of $2.95 billion not disbursed,” Mahama stated.

He further warned that these stalled projects could lead to a cost overrun of approximately GHS15 billion if left unaddressed.

The president called for immediate steps to resolve debt default and restructuring challenges to ensure the completion of these critical projects and drive national development forward.