President Mahama settles GHS6.081billion DDEP coupon payments, builds debt buffer

John Dramani Mahama-led government has fulfilled its commitment to bondholders under the Domestic Debt Exchange Programme (DDEP) by settling outstanding coupon payments and establishing a debt buffer, according to a statement issued by the Presidency on Monday, February 17, 2025.

The statement, signed by Felix Kwakye Ofosu, Minister for Government Communications and Spokesperson to the President, announced that the Ministry of Finance had disbursed GHS6.081 billion as Payment-In-Cash (PIC) to all DDEP bondholders. Additionally, GHS3.46 billion in Payment-In-Kind (PIK) was deposited into bondholders' securities accounts in line with the DDEP Memorandum.

To further strengthen the country’s debt sustainability efforts, the government has injected GHS9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund). This move is intended to provide a buffer for the fifth DDEP coupon, which falls due between July and August 2025.

President John Dramani Mahama reaffirmed his administration’s commitment to honoring all DDEP obligations, restoring market confidence, and enhancing transparency in public finances. He emphasized that the upcoming 2025 Budget Statement would outline additional measures aimed at fiscal prudence, economic stability, and job creation.

The government acknowledged economic challenges inherited from the previous administration but reiterated its determination to stabilize the Ghanaian cedi, curb inflation, and ensure value for public spending.

This latest intervention is expected to reassure investors and financial markets about the government’s commitment to economic recovery and sustainable debt management.