The Ministry of Finance has commenced payments that are due bondholders under the Domestic Debt Exchange Programme (DDEP).

This is contained in a press release dated February 17 issued by the Minister in charge of Government Communication, Felix Kwakye Ofosu.

“Following a directive from President John Dramani Mahama, the Ministry of Finance has today, 17th February 2025, honoured the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders,” he announced.

He added that, “Government has also honoured the Payment-In-Kind (PIK) portion of GHS3.46 billion, deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum. Additionally, Government has also paid into the Debt Service Recovery Cedi Account (Sinking Fund) an amount of GHS9.7 billion as a buffer for the 5th DDEP coupon that will fall due in July and August, 2025.”

According to Mr Kwakye Ofosu, “President Mahama is committed to the government’s honouring of all obligations under the DDEP. 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.”

He explained that, “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 spiraling inflation and create jobs for the teeming youth of our country.”

Read also:

Agric Minister urges SHS authorities to establish school farms to supplement food supplies