President John Dramani Mahama has directed the Ministry of Finance to honor its obligations under the Domestic Debt Exchange Programme (DDEP), making a significant payment of GHS6.081 billion in cash to bondholders.
A statement from the Presidency’s Communications Directorate confirmed the move, emphasizing Mahama’s commitment to restoring confidence in the financial sector. Additionally, the government has fulfilled the Payment-In-Kind (PIK) portion of GHS3.46 billion, which has been deposited into bondholders’ securities accounts as per the DDEP Memorandum.
In a proactive step to prevent future liquidity challenges, the government has also allocated GHS9.7 billion into the Debt Service Recovery Cedi Account, also known as the Sinking Fund. This buffer will ensure smooth payment of the upcoming 5th DDEP coupon, due in July and August 2025.
According to the statement signed by Presidential Spokesperson Felix Kwakye Ofosu, these measures are part of broader efforts to restore fiscal discipline, improve transparency, and strengthen market confidence.
“The government is determined to bring back a stable Cedi, control spiraling inflation, and create jobs for the teeming youth of our country,” the statement read, stressing Mahama’s intent to correct economic challenges inherited from the previous administration.