President John Mahama has directed the Ministry of Finance to settle outstanding Domestic Debt Exchange Programme (DDEP) coupons and build a financial buffer through the Sinking Fund.
In line with this directive, the Ministry of Finance has on Monday, February 17, disbursed a Payment-In-Cash (PIC) coupon of GH₵6.081 billion to all DDEP bondholders. Additionally, a Payment-In-Kind (PIK) portion of GH₵3.46 billion has been credited to bondholders’ securities accounts, in accordance with the terms outlined in the DDEP Memorandum.
To further strengthen the country’s debt management strategy, the government has also deposited GH₵9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund). This move is intended to serve as a buffer for the next five DDEP coupon payments due in July and August 2025.
President Mahama reaffirmed his administration’s commitment to fulfilling all obligations under the DDEP while working to restore confidence in the economy. He indicated that the upcoming 2025 Budget Statement will outline additional measures aimed at ensuring fiscal discipline, prioritizing spending, and enhancing transparency in public financial management. The government is focused on stabilizing the cedi, controlling inflation, and creating jobs, despite the economic challenges inherited from the previous administration. By implementing prudent fiscal policies, the Mahama-led administration aims to restore macroeconomic stability and ensure value for every pesewa spent.
Credit: Joy online