Acting Prime Minister Colm Imbert says outstanding payments to contractors would soon begin.
Imbert said on Thursday afternoon that he has signed financial warrants for $300 million to be paid.
Contractors, however, are claiming a total of more than $2 billion.
Imbert, the substantive Minister of Finance, told the weekly post-Cabinet press conference that he has withdrawn about five percent of the government’s financial overdraft in order to make the payments.
He said the sums being paid were previously validated and authenticated.
Further payments would be made after a similar process, he added.
“I doubt we can pay $2 billion in a month,” he stated.
He said he has written to various ministries, State enterprise and agencies on the matter of settling outstanding debts to contractors.
Payment is a burning issue in the contracting sector, with several contractors complaining about having to shut down operations, send home workers and face challenges from their respective banks.