The Ministry of Finance, on Monday, February 17, 2025, honored the Payment-In-Cash (VIC) coupon of GH₵6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
The move is in compliance with a directive issued by President John Mahama.
The government has also honored the Pay-In-Kind (PIK) portion of GH₵3.46 billion, deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum.
Additionally, the government has paid GH₵9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the 5th DDEP coupon, which will fall due in July and August 2025.
According to a statement signed by Presidential Spokesperson Felix Kwakye Ofosu, President Mahama is committed to honoring all obligations under the DDEP.
“Through the 2025 budget statement, the government will announce further measures to help restore market confidence in the economy, improve spending efficiency, and enhance transparency and accountability in public finance,” the statement disclosed.
It added: “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 bring back a stable cedi, control spiraling inflation, and create jobs for the teeming youth of our country.”
KA
In the meantime, watch as John Jinapor recounts ordeal after leaving office in 2017
