In a significant move to restore fiscal prudence and stabilize the economy, President John Dramani Mahama has directed the Ministry of Finance to settle the Domestic Debt Exchange Programme (DDEP) coupons and build debt buffers through the Sinking Fund.
The Ministry of Finance has promptly honored the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders, as well as the Payment-In-Kind (PIK) portion of GHS3.46 billion, which has been deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum.
Furthermore, the Government has paid GHS9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the 5th DDEP coupon due in July and August 2025.
This move demonstrates President Mahama’s commitment to honoring all obligations under the DDEP.
The Government’s efforts to restore fiscal prudence and stabilize the economy are ongoing.
Through the 2025 budget statement, the Government will announce additional measures aimed at restoring market confidence, prioritizing spending, and improving transparency and accountability in public finances.
Despite inheriting a challenging economy, the Government is determined to bring back a stable Cedi, control spiraling inflation, and create jobs for the country’s youth.
This latest development is a significant step towards achieving these goals and demonstrates President Mahama’s commitment to putting Ghana’s economy back on track.
