Government on track to build GH¢30bn Sinking Fund to meet 2027 debt obligations – Ato Forson

Finance Minister Dr Cassiel Ato Forson has announced that the government is on course to accumulate GH¢30 billion in the Sinking Fund by the close of 2026 to fully meet major domestic debt repayments scheduled for early 2027.

Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said the fund is expected to cover the GH¢30 billion in Domestic Debt Exchange Programme (DDEP) bonds maturing in February 2027.

He explained that strengthening the Sinking Fund forms a key part of the government's debt management strategy, aimed at ensuring that future debt obligations are met without placing excessive strain on public finances.

According to the Finance Minister, the government's 2026–2029 Medium-Term Debt Strategy (MTDS) requires that 7 per cent of non-oil tax revenues, together with proceeds from domestic bond issuances, be transferred into the Sinking Fund Cedi Account to prepare for debt maturities due in 2027 and 2028.

“As of 22nd July 2026, that war chest holds GH¢15.6 billion,” Dr Forson told Parliament.

He added that the government remains on course to double that amount before the end of the year.

“Mr Speaker, we are on course to accumulate GH¢30 billion in the Sinking Fund by the end of 2026. This will be enough to repay the GH¢30 billion DDEP debt that will fall due in February 2027,” he said.

Dr Forson noted that the strategy reflects the government's determination to honour its debt obligations in a sustainable and orderly manner.

“Brick by brick, cedi by cedi, we are building the wall that will meet the wave so that when 2027 and 2028 come, Ghana will not scramble. Ghana will simply pay,” he stated.

He further indicated that the steady growth of the Sinking Fund sends a positive signal to investors, credit rating agencies and the public about the government's commitment to prudent fiscal management.

“This is the signal the Sinking Fund sends to investors, credit rating agencies and the people of Ghana, making it clear that this Government plans ahead, honours its commitments and manages the public finances better,” Dr Forson added.