By Valentia Tetteh
Deputy Finance Minister nominee, Thomas Nyarko Ampem, has urged stakeholders to adopt a non-partisan stance in discussions regarding the Domestic Debt Exchange Programme (DDEP) payments.
Appearing before Parliament’s Appointments Committee on Monday, February 24, 2025, Mr. Ampem stressed the need to focus on the positive impact of the payments rather than politicizing the issue.
“I think we should concentrate on the good news that this sends or signals to the market,” he stated, assuring investors that the government is committed to honoring its obligations under the DDEP. He emphasized that this will strengthen investor confidence and contribute to the stability of Ghana’s financial sector.
Mr. Ampem also highlighted that the timely fulfillment of DDEP payments will enhance market trust in the country’s economic recovery efforts.
Finance Ministry Completes DDEP Coupon Payments
The Ministry of Finance has confirmed the payment of GHS6.081 billion in cash to all DDEP bondholders as of February 17, 2025. In addition, the Payment-In-Kind (PIK) component, amounting to GHS3.46 billion, has been credited to bondholders’ securities accounts in line with the DDEP Memorandum.
Furthermore, the Mahama administration has initiated a buildup of the Debt Service Recovery Cedi Account (Sinking Fund), allocating GHS9.7 billion as a buffer for the fifth DDEP coupon, due in July and August 2025.
A statement signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, indicated that the 2025 Budget Statement will introduce additional measures to restore market confidence, prioritize spending, and enhance transparency in public finances.
