Gov’t pays GHS6.08bn in cash to DDEP bondholders

Tetteh Nyogmor
2 Min Read
The DDEP was introduced as part of Ghana’s efforts to restructure its domestic debt and restore economic stability amid ongoing fiscal challenges

The Ghanaian government has fulfilled its latest payment obligations under the Domestic Debt Exchange Programme (DDEP), disbursing GHS6.081 billion in cash to bondholders following a directive from President John Dramani Mahama.

In addition, the government has honoured the Payment-In-Kind (PIK) portion of GHS3.46 billion, which has been credited to bondholders’ securities accounts in line with the DDEP Memorandum.

A further GHS9.7 billion has been transferred into the Debt Service Recovery Cedi Account, also known as the Sinking Fund, to act as a buffer for the next coupon payment due in July and August 2025.

Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications confirmed the payments in a statement issued on Monday.

He reiterated President Mahama’s commitment to meeting all obligations under the DDEP, saying: “Through the 2025 Budget Statement, Gthe overnment will announce further measures that will help to restore market confidence in the economy, prioritise spending and improve transparency and accountability in public finances.”

He added: “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.”

 

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