Government pays GH₵6.08bn to DDEP bondholders, commits to fiscal prudence

In a move to uphold its financial obligations, the government of Ghana, under the directive of President John Dramani Mahama, has honoured the Payment-In-Cash (PIC) coupon of GH₵6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders. 

This payment was made on Monday, February 17, 2025, as confirmed by the Ministry of Finance.

In addition to the cash payment, the government has also settled the Payment-In-Kind (PIK) portion of GH₵3.46 billion. This amount has been deposited into the respective bondholders’ securities accounts, in accordance with the DDEP Memorandum.

Furthermore, the government has allocated GH₵9.7 billion to the Debt Service Recovery Cedi Account, commonly referred to as the Sinking Fund. This allocation serves as a buffer for the 5th DDEP coupon, which is due in July and August 2025.

The Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu emphasized President Mahama's commitment to fulfilling all obligations under the DDEP. 

In a statement issued on Monday, February 17, 2025, Ofosu stated, “Through the 2025 budget Statement, Government will announce further measures that will help to restore market confidence in the economy, prioritise spending and improve transparency and accountability in public finances.”

Ofosu further highlighted the government’s broader economic objectives, noting, “Ultimately, government seeks to restore fiscal prudence while ensuring value for every pesewa spent. Despite the challenging economy that was bequeathed by the previous administration, government is determined to bring back a stable Cedi, control spiralling inflation and create jobs for the teeming youth of our country.”