In line with President John Dramani Mahama’s directive, the Ministry of Finance has fulfilled its Payment-In-Cash (PIC) coupon obligation of GHS6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders. This payment was made on February 17, 2025.
Additionally, the government has honored the Payment-In-Kind (PIK) portion of GHS3.46 billion, which has been deposited into the respective bondholders’ securities accounts, in accordance with the DDEP Memorandum.
Furthermore, the government has made a proactive payment of GHS9.7 billion into the Debt Service Recovery Cedi Account, commonly referred to as the Sinking Fund. This payment serves as a buffer for the fifth DDEP coupon payment, which is due in July and August 2025.
Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, emphasized President Mahama’s commitment to meeting all obligations under the DDEP.
He stated, “Through the 2025 Budget Statement, Government will announce further measures that will help to restore market confidence in the economy, prioritise spending and improve transparency and accountability in public finances.”
The Minister further noted, “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.”