President John Mahama has directed Ghana’s Ministry of Finance to make a GH₵6 billion ($391 million) cash coupon payment to bondholders participating in the Domestic Debt Exchange Programme (DDEP). This is part of the government’s continued efforts to fulfill its obligations to investors under the DDEP framework.
In addition to the cash payment, a further GH₵3.46 billion ($224.9 million) Pay-In-Kind (PIK) portion has been deposited into the bondholders’ securities accounts. These measures were outlined in a statement from Presidential Spokesperson Felix Kwakye Ofosu, who reaffirmed President Mahama’s strong commitment to meeting all financial obligations arising from the DDEP.
The Domestic Debt Exchange Programme, which has been a central component of Ghana’s economic recovery plan, aims to restructure the country’s domestic debt, which has been burdened by unsustainable interest payments. Mahama emphasized that honoring these payments is part of broader efforts to stabilize the country’s economy and restore investor confidence.
In line with these efforts, the government has also promised additional reforms in the upcoming 2025 budget, which will focus on restoring market confidence, improving government spending efficiency, and enhancing financial transparency. These initiatives aim to address the economic challenges the country has faced in recent years, including rising debt levels and inflation.
The move is expected to provide some relief to domestic bondholders who have been affected by Ghana’s debt restructuring process, signaling that the government is taking steps to fulfill its financial obligations while continuing to implement necessary reforms for economic recovery.
With the continued support of international creditors and bondholders, President Mahama remains optimistic that Ghana will be able to successfully navigate its economic challenges and achieve sustainable growth in the coming years.
