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The Auditor General’s Report on public accounts has highlighted an issue concerning the poor recovery of loan receivables by the government.
According to the report, a staggering GH¢61 billion remains outstanding, representing 99.93% of the total loan receivables for the year ending December 31, 2023.
The report underscores the importance of effective cash management, particularly the need for well-defined recovery timelines and robust collection plans when granting loans or advances to covered entities.
However, the Auditor General’s review revealed a severe lapse in this area.
Out of a total of GH¢63,384,527,594 in outstanding loan receivables, only GH¢43,450,428.00, or a mere 0.07%, was recovered during the review period.
