The Daily Graphic was informed by a Ministry of Finance source that the government had paid GH¢10 billion in interest payments to bondholders under the Domestic Debt Exchange Program (DDEP).
Along with being the second full cash payment without a Payment-In-Kind component, the payment signifies the sixth coupon settlement under the scheme.
The improvement is a result of increased fiscal capacity and better liquidity.
As per the restructuring pact and the government’s overall debt management and fiscal consolidation plan, the settlement covers cedi-denominated DDEP coupon commitments.
The prompt payment will probably boost market confidence, enhance Ghana’s credit outlook, and send a very favourable message to both domestic and foreign investors.
“The government remains fully committed to meeting future DDEP obligations, supported by improving macroeconomic fundamentals, declining inflation, lower interest rates and a stable cedi,” the source stated.
In August 2025, the government’s previous coupon payment under the DDEP injected an incredible GH¢9.7 billion into the economy.
In a statement, the Ministry of Finance stated that GH¢9.69 billion was paid out on August 19, 2025, making GH¢19.4 billion the total amount paid out under the program last year alone.
Officials at the time stated that the action was more than just another standard payment; rather, it was a clear indication to the public and investors that the government was committed to keeping its word, preserving economic confidence, and re-establishing the legitimacy of Ghana’s debt management initiatives.
In order to support this pledge, the government established two new safety nets: the US Dollar Sinking Fund and the Cedi Sinking Fund. These funds will act as buffers for bond repayments that are due in 2026, 2027, and 2028.
The Finance Ministry stressed in the statement that all future debts, including those under the DDEP, will be paid in full, adding, “This payment shows our unwavering commitment to meeting our obligations on time.”
Launched in 2022 as a component of Ghana’s economic recovery plan, the DDEP has frequently generated contentious discussion.
With that payment, observers believed the government was willing to follow through on its promises.
The statement said, “For bondholders and ordinary Ghanaians alike, today’s announcement may mark a much-needed boost in confidence and a reminder that, despite the turbulence, Ghana’s debt ship is being steered to safety.”
According to reports, the DDEP cost the country over GH¢61.7 billion as of mid-2025, having a big effect on banks, private investors, and the financial industry.
One of the main elements of the nation’s economic recovery plan under the International Monetary Fund’s (IMF) Extended Credit Facillity program was the massive restructuring of domestic debt in order to address unmanageable debt levels.
For example, the Bank of Ghana had significant losses of more than GH¢60 billion as a result of principle and interest haircuts on its holdings.
Over GH¢203 billion in domestic debt was restructured in order to lower debt service requirements; some bondholder payments were postponed or changed.
The Bank of Ghana’s governor, Dr. Johnson Asiama, stated just last month that the government had promised to recapitalise the central bank in order to repair its balance sheet following losses incurred under the DDEP.
He claimed that after the financial burden brought on by the debt restructuring, the recapitalisation was required to preserve the bank’s operational capability and preserve trust in monetary policy.
Speaking at the 128th Monetary Policy Committee press conference in Accra, the governor clarified that when the DDEP was implemented in 2022 as part of attempts to stabilise the economy, the central bank suffered large losses.
Source: newsthemegh.com