President Mahama directs finance ministry to settle DDEP coupons, strengthen debt buffers

Accra, February 17, 2025 – President John Dramani Mahama has directed the Ministry of Finance to settle outstanding coupon payments for bondholders under the Domestic Debt Exchange Programme (DDEP) and enhance debt buffers through the Sinking Fund.

In compliance with the directive, the Ministry of Finance has disbursed GHS6.081 billion as Payment-In-Cash (PIC) to all DDEP bondholders.

Additionally, the government has fulfilled the Payment-In-Kind (PIK) portion, amounting to GHS3.46 billion, which has been credited to bondholders’ securities accounts in accordance with the DDEP Memorandum.

To ensure future payments remain stable, the government has also allocated GHS9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund).

This move is intended to serve as a financial buffer for the fifth DDEP coupon, which is due in July and August 2025.

President Mahama reaffirmed his administration’s commitment to meeting all obligations under the DDEP.

He indicated that additional measures would be outlined in the 2025 budget to restore investor confidence, promote fiscal transparency, and ensure responsible government spending.

The government aims to restore fiscal prudence and maximize the efficiency of public funds. Despite economic challenges inherited from the previous administration, Mahama’s government is focused on stabilizing the Cedi, curbing inflation, and creating employment opportunities for Ghanaian youth.

The announcement was made in a statement signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications.