Former Finance Minister Dr Mohammed Amin Adam has weighed in on the government's recent coupon payments to Domestic Debt Exchange Programme (DDEP) bondholders, stating that the previous New Patriotic Party (NPP) administration met all its obligations without default.
In a Facebook post on Monday, February 18, 2025, he said the NPP government honoured three coupon payments between August 2023 and December 2024, using a mix of Payment-In-Cash (PIC) and Payment-In-Kind (PIK).
He noted that a total of GH₵17.25 billion was paid in cash, while GH₵9.77 billion was settled in kind.
He added that individuals who did not tender their bonds during the restructuring were also paid GH₵515.17 million in line with an agreement between the government and the Coalition of Individual Bondholders.
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Dr Amin Adam also stated that the NPP administration created buffers in Debt Reserve Accounts to support future debt service obligations, including the fourth coupon payment due on February 18, 2025.
He provided the breakdown of previous payments as follows:
The first payment in August 2023 amounted to GH₵8.55 billion, with GH₵5.42 billion paid in cash and GH₵3.13 billion settled in kind.
The second payment in February 2024 totalled GH₵9.11 billion, comprising GHS5.85 billion in cash and GH₵3.27 billion in kind.
The third payment in August 2024 was GH₵9.35 billion, with GH₵5.98 billion in cash and GHS3.38 billion in kind.
His comments come after the government announced that it had settled the fourth coupon payment, amounting to GH₵6.081 billion in cash and GH₵3.46 billion in kind.
