Ghana Road Contractors reject possible inclusion in government’s debt restructuring plan

The Ghana Road Contractors says it has not received any offer letter from the government about a possible restructuring of the debt.

This comes after the Finance Minister, Dr Mohammed Amin Adam, announced that the government, through its advisor, sent letters to private banks and contractors to whom it owes about $2.8 billion for a debt restructuring.

However, the National Chairman of the group, John Afful, argues that this might probably be referring only to foreign contractors.

He explained that the said amount was enormous and that the government did not owe the group so much money.

Mr Afful said he was certain this was the case because the association is yet to receive any proposal to that effect.

Speaking in an interview, he said “We haven’t been reached and I think what I have read was pertaining to the foreign contractors. We local contractors haven’t been approached and I don’t think we will be involved because the amount we are owed is far, far less than the $2.8 billion. What is outstanding is even less than the $1 billion, so, I don’t think we the local contractors are involved in this.”

When asked what the group’s stance would be if it were included in the list, he said the group would not participate.

The National Chairman explained that the government owes the group since 2016, and they would not be willing to be involved in any such restructuring.

“Hopefully, we can’t participate because our debt has been there for a very long time- from 2016 to now. So, I don’t think it will be right for any party to do anything like that. It will be very much unfair to us,” he added.