In a bid to bolster confidence in Ghana’s financial sector, Finance Minister Dr. Cassiel Ato Forson has reaffirmed the government’s commitment to meeting all obligations under the Domestic Debt Exchange Programme (DDEP) for 2025.
At a high-level meeting with over 22 bank Managing Directors on March 20, Dr. Forson emphasized the administration’s dedication to fiscal discipline and transparency. “We do not intend to default,” he stated unequivocally during the meeting.
“All outstanding holdouts have been paid, and we have put in place the necessary buffers to ensure that every single DDEP obligation for this year will be met” he added.
The Finance Minister also outlined the government’s strategy to reduce reliance on Treasury bills, promoting a more coordinated approach between fiscal and monetary policies. This move aims to stabilize interest rates, ease liquidity pressures, and foster a more stable banking sector.
Dr. Forson assured banking executives that the government has learned from past financial challenges and remains committed to sound fiscal management.
“These actions are part of a broader strategy to ensure economic resilience and prevent a repeat of the financial instability of 2022,” he said.
He concluded, “We have learned from the past. We are not going to be reckless. We have built the necessary buffers to meet our obligations, and we will work with you to ensure a stable and prosperous economy.”