Following a directive from President John Dramani Mahama, the Ministry of Finance has honoured the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders. The 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, the 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. Felix Kwakye Ofosu, Spokesperson to the President and Minister, Government Communications made this known in a statement signed and issued on Monday February 17, 2025.
He noted that President Mahama was committed to the government’s honouring of all obligations under the DDEP. “Through the 2025 budget Statement, the 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.
“Ultimately, the 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,” he further stated.
By: Abigail Arthur
