Josiah
In line with a directive from President John Dramani Mahama, the Ministry of Finance has honored the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all bondholders under the Domestic Debt Exchange Programme (DDEP) as of February 17, 2025.
Additionally, the government has fulfilled the Payment-In-Kind (PIK) obligation of GHS3.46 billion, which has been deposited into the respective bondholders’ securities accounts in accordance with the DDEP Memorandum.
To further strengthen debt management, the government has allocated GHS9.7 billion to the Debt Service Recovery Cedi Account (Sinking Fund). This serves as a financial buffer for the upcoming fifth DDEP coupon payments due in July and August 2025.
President Mahama remains committed to honoring all obligations under the DDEP, reinforcing his administration’s dedication to financial stability and investor confidence. As part of this commitment, the government will introduce additional measures in the 2025 Budget Statement to restore market confidence, enhance spending efficiency, and promote greater transparency and accountability in public finances.
Despite the economic challenges inherited from the previous administration, the government is resolute in its efforts to stabilize the Cedi, curb rising inflation, and create sustainable employment opportunities for the country’s youth. The overarching goal is to restore fiscal discipline while ensuring value for every pesewa spent.
Source: Omanghana.com
