By Josephine Kekeli Amuzu
President John Dramani Mahama has directed the Ministry of Finance to settle outstanding Domestic Debt Exchange Programme (DDEP) coupons and build a financial buffer through the Sinking Fund.
On February 17, 2025, the government successfully honoured a Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders. Additionally, a Payment-In-Kind (PIK) portion of GHS3.46 billion was deposited into respective bondholders’ securities accounts, aligning with the DDEP Memorandum.
As part of efforts to ensure financial stability and future debt servicing, the government has also deposited GHS9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund) to prepare for the 5th DDEP coupon, which is due in July and August 2025.
According to Felix Kwakye Ofosu, Spokesperson to the President, the Mahama-led administration remains committed to honouring all obligations under the DDEP. Through the upcoming 2025 Budget Statement, the government is expected to outline additional measures to restore market confidence, prioritize expenditure, and improve financial transparency.
Despite inheriting a challenging economic situation from the previous administration, the government is determined to stabilize the Cedi, control rising inflation, and create job opportunities for Ghana’s youth.
Statement Below:
