Accra: The Ministry of Finance on Monday honoured the Payment-in-Cash (PIC) coupon of GHS $6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders. A statement issued by Mr. Felix Kwakye Ofosu, Spokesperson to the President and Minister of State in-charge of Government Communications, was copied to the Ghana News Agency. It noted that the payment followed a directive from President John Dramani Mahama.
According to Ghana News Agency, the Government had also honoured the Payment-in-Kind (PIK) portion of GHS3.46 billion, which was deposited into the respective bondholders' securities accounts in line with the DDEP Memorandum. Additionally, an amount of GHS9.7 billion was paid into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the 5th DDEP coupon due in July and August, 2025.
The statement emphasized that President Mahama is committed to honoring all obligations under the DDEP. It mentioned that through the 2025 Budget Statement, the Government will announce further measures to restore market confidence, prioritize 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 inherited from the previous administration, the Government is determined to stabilize the Cedi, control inflation, and create jobs for the youth.
