President John Dramani Mahama has instructed the Ministry of Finance to disburse GH₵6.081 billion to settle all bondholders under the Domestic Debt Exchange Programme (DDEP) in order to eliminate outstanding coupons and improve the nation’s financial stability.
Bondholders’ securities accounts have also been credited with GH₵3.46 billion in Payment-In-Kind (PIK) funds, in accordance with the conditions specified in the DDEP Memorandum.
According to a statement issued by Felix Kwakye Ofosu, the presidential spokesperson, the government has also set aside GH₵9.7 billion as a contingency fund for the fifth coupon payment, which is scheduled for July and August of 2025.
In addition to trying to restore economic confidence and provide financial stability, the statement reiterated President Mahama’s commitment to upholding all DDEP duties.
In the future, the government plans to release a budget statement for 2025 that will highlight:
Ensuring fiscal discipline to prevent economic instability. Prioritizing government spending to maximize efficiency.
Enhancing transparency in public financial management.
These measures form part of the government’s broader strategy to stabilize Ghana’s economy and build a stronger financial future for the country.
Statement Below:
Source: newsthemegh.com