Following a decisive move to stabilize Ghana’s economy, President John Dramani Mahama has directed the Ministry of Finance to settle Domestic Debt Exchange Programme (DDEP) coupons and build debt buffers through a Sinking Fund.
The Finance Ministry, according to a statement from the presidency honoured a Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders on Monday February 17,2025.
The statement from the presidency, indicated that, the government has also honored the Payment-In-Kind (PIK) portion of GHS3.45 billion, which has been deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum.
The statement mentioned that, an amount of GHS9.7 billion has been paid into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the 5th DDEP coupon due in July and August 2025.
President Mahama emphasized his administration’s commitment to honouring all obligations under the DDEP.
“Through the 2025 budget Statement, Government will announce further measures that will help to restore market confidence in the economy, prioritize spending, and improve transparency and accountability in public finances.”
The statement highlighted government’s efforts to restore fiscal prudence and ensure value for every pesewa spent.
“Despite the challenging economy bequeathed by the previous administration, government is determined to bring back a stable Cedi, control spiralling inflation, and create jobs for the youth of our country”.
