Dr. Adu Anane Antwi, Convenor of the Locked-Up Investment Forum, has disclosed that the payment of coupons for individual bondholders is a good thing for investors.
His comments follow a directive from President Mahama to the Finance Minister, Dr. Cassiel Ato Baah Forson, to honour the fourth coupon payment to Domestic Debt Exchange Programme (DDEP) bondholders.
Speaking on Ghana Tonight on TV3 Monday, February 17, 2025, Dr. Antwi said “if bondholders are going to be paid any amount at all, it is good for investors.”
He, however, clarified that the payment is being made for persons who submitted their bonds for the programme.
“But let me clarify that for people who were exempted or didn’t submit their bonds for the exchange, they have always been paid every week when the bond is due, so we don’t have a problem there.
“What government is paying now is for people who put in their bonds for the new bonds, those who exchanged their bonds and the settlement date was February 17. So, August 17, something is due and another February, then Another August something is due,” he explained.
The Finance Ministry on Monday, February 17, 2025, commenced payments that are due bondholders under the Domestic Debt Exchange Programme (DDEP).
This announcement was contained in a press statement 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.”
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