President John Dramani Mahama has reaffirmed his administration’s commitment to honouring all obligations under the Domestic Debt Exchange Programme (DDEP) while taking steps to restore economic stability.
Directing the Ministry of Finance to act swiftly, he stated in a statement released on his behalf by Felix Kwakye Ofosu, thus, “Government has today honoured the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders.”
In addition, Mahama highlighted the government’s adherence to the agreed framework, explaining, “We have also honoured the Payment-In-Kind (PIK) portion of GHS3.46 billion, which has been deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum.”
He further stressed that his administration was taking proactive measures to manage future debt obligations, saying, “An amount of GHS9.7 billion has been paid into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the fifth DDEP coupon that will fall due in July and August 2025.”
Acknowledging the economic challenges inherited from the previous administration, Mahama assured Ghanaians that his government was committed to fiscal discipline and economic recovery.
“Despite the difficult economic situation we met, we are determined to stabilize the Cedi, control inflation, and create jobs for our youth,” he said.
