President John Mahama has directed the Ministry of Finance to honour the Payment-In-Cash (PIC) coupon of GH₵6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
Government has also paid into the Debt Service Recovery Cedi Account (Sinking fund) an amount of GH₵9.7 billion as a buffer for the 5th DDEP coupon that will fall due in July and August 2025.
In a statement signed by the Spokesperson to the President, Felix Kwakye Ofosu, said “President Mahama is committed to the government’s honouring of all obligations under the DDEP. Through the 2025 budget statement, the Government will announce further measures that will help to restore market confidence in the economy, prioritise spending and improve transparency and accountability in public finance.”
Below is the full statement:
President Mahama directs Ministry of Finance to settle DDEP coupon and build debt buffers through Sinking Fund:
Following the directive from President John Dramani Mahama, the Ministry of Finance has today, February 17, 2025 honoured the Payment-In-Cash (PIC) coupon of GH₵6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
Government has also honoured the Payment-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 also paid into the Debt Service Recovery Cedi Account (Sinking fund) an amount of GH₵9.7 billion as a buffer for the 5th DDEP coupon that will fall due in July and August 2025.
President Mahama is committed to the government’s honouring of all obligations under the DDEP. Through the 2025 budget statement, the Government will announce further measures that will help to restore market confidence in the economy, prioritise spending and improve transparency and accountability in public finance.
Unfortunately, the government is seeking to restore fiscal prudence while ensuring value for every pesewa spent. Despite the challenging economy that was bequeathed by 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.
Source: Elvisanokyenews.com
