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The Ministry of Finance has fulfilled its commitment under the Domestic Debt Exchange Programme (DDEP) by making a Payment-In-Cash (PIC) coupon of GHS6.081 billion to all bondholders, following a directive from President John Dramani Mahama.
Additionally, the government has honored the Payment-In-Kind (PIK) portion of GHS3.46 billion, depositing the amount into bondholders’ securities accounts, in accordance with the DDEP Memorandum.
To further strengthen debt repayment efforts, an amount of GHS9.7 billion has been transferred into the Debt Service Recovery Cedi Account (Sinking Fund). This serves as a buffer for the fifth DDEP coupon, which is due in July and August 2025.
In a statement issued on Monday, February 17, 2025, Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, confirmed these payments and reaffirmed the government’s commitment to honoring all obligations under the DDEP.
> “Through the 2025 Budget Statement, the 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.”
He emphasized that despite inheriting a challenging economic situation from the previous administration, the government remains focused on ensuring fiscal prudence and delivering economic stability.
> “Ultimately, the government seeks to restore fiscal prudence while ensuring value for every pesewa spent. Despite the challenging economy that was bequeathed by the previous administration, the government is determined to bring back a stable Cedi, control spiraling inflation, and create jobs for the teeming youth of our country,” he added.
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