President John Dramani Mahama has directed the Ministry of Finance to settle maturing Domestic Debt Exchange Programme (DDEP) coupons and create a cash buffer from the Sinking Fund. On 17th February 2025, the government successfully settled a Payment-In-Cash (PIC) coupon worth GHS6.081 billion to all bondholders of DDEP. A Payment-In-Kind (PIK) component of GHS3.46 billion was also credited to individual bondholders' securities accounts, as envisaged in the DDEP Memorandum.
Following efforts towards financial stability and future debt repayment, the government has also deposited GHS9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund) for the forthcoming 5th DDEP coupon due in July and August 2025.
According to Felix Kwakye Ofosu, Spokesperson to the President, it is the Mahama government that will have to make sure that all its assurances regarding the DDEP are done. The government will surely institute additional steps towards confidence in the market, targeted expenditure, and promoting transparency in budgeting in the upcoming 2025 Budget Statement.
Despite leaving a challenging economic environment by the former government, the government is determined to stabilize the Cedi, reduce inflationary pressures, and provide employment for Ghanaian youth.
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