The government has announced plans to repay GH¢29 billion in Domestic Debt Exchange Programme (DDEP) bonds ahead of schedule and settle a US$590 million Eurobond obligation due in January 2027 before the end of December 2026.
Finance Minister Dr Cassiel Ato Forson disclosed the debt repayment arrangements while presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026.
According to the Finance Minister, the government has opened an early repayment offer for holders of DDEP bonds scheduled to mature on February 16, 2027. The offer takes immediate effect, with affected bondholders encouraged to accept the repayment arrangement.
Dr Forson assured investors that the government had secured sufficient funds to settle the GH¢29 billion principal amount in full.
Addressing Parliament, he declared that the money was ready and urged eligible DDEP bondholders to come forward and receive their payments.
He revealed that the Cedi Sinking Fund had accumulated GH¢29 billion as of November 11, 2026, providing sufficient financial resources to cover the entire principal repayment of the February 2027 DDEP bonds.
The government intends to clear both the GH¢29 billion domestic debt principal and the US$590 million Eurobond obligation before December 31, 2026. Together, the two payments represent approximately GH¢36 billion in debt obligations scheduled for settlement ahead of their original maturity dates.
Ghana’s GH¢53 Billion DDEP Debt Obligations in 2027
Dr Forson explained that Ghana faces approximately GH¢53 billion in Domestic Debt Exchange Programme obligations in February and August 2027.
The February 16, 2027, DDEP bond maturity consists of GH¢29 billion in principal payments and GH¢11.1 billion in interest, bringing the total obligation to GH¢40.1 billion.
Another GH¢12.5 billion is expected to fall due in August 2027, comprising GH¢3.3 billion in principal and GH¢9.2 billion in interest payments.
The Finance Minister said the government was strengthening the Debt Service Reserve Account to ensure sufficient funds are available to meet the February interest payment and other outstanding obligations.
He further assured DDEP bondholders that the government remained committed to honouring all principal and interest payments in full and on schedule.
Government Targets US$600 Million in Eurobond Sinking Fund
On Ghana’s external debt obligations, Dr Forson announced that the government intends to settle a US$590 million Eurobond payment due on January 2, 2027, before the close of December 2026.
He disclosed that the US dollar sinking fund held approximately US$480 million as of November 11, 2026, with government targeting an increase to about US$600 million by December.
Ghana also faces another US$580 million Eurobond repayment obligation scheduled for July 2, 2027.
According to the Finance Minister, settling the January Eurobond obligation ahead of schedule, alongside the February DDEP principal repayment, would significantly reduce Ghana’s debt repayment burden in 2027.
He said the strategy was designed to strengthen investor confidence, improve Ghana’s creditworthiness and prevent a recurrence of the debt crisis that resulted in the 2022 domestic debt restructuring.
Ghana’s Public Debt Reaches GH¢759.3 Billion
Providing an update on the country’s public debt position, Dr Forson said provisional public debt stood at GH¢759.3 billion at the end of October 2026, equivalent to 47.5 per cent of Gross Domestic Product (GDP).
Domestic debt accounted for 56.4 per cent of the total public debt, while external debt represented 43.6 per cent.
He explained that the government’s debt management strategy prioritises reducing exposure to foreign currency-denominated borrowing to minimise the impact of exchange rate fluctuations on Ghana’s public debt.
The Finance Minister also revealed that government had paid GH¢41.36 billion to DDEP bondholders since 2025.
Over the same period, payments to Eurobond investors had reached US$2.1 billion.
He attributed the country’s improved capacity to meet its debt obligations to stronger domestic revenue mobilisation, expenditure rationalisation and the accumulation of financial reserves.
Ato Forson Promises Responsible Borrowing and Timely Debt Repayment
Dr Forson acknowledged that Ghana’s debt restructuring exercise had imposed significant financial difficulties on households, pension funds, commercial banks, businesses and individual investors.
He stressed the importance of responsible public borrowing, effective debt management and timely repayment to protect the country’s economic recovery.
The Finance Minister criticised the previous administration’s decision to push substantial DDEP repayment obligations into 2027 and 2028, arguing that the repayment structure could have exposed Ghana to another debt crisis.
He maintained that the government was determined to protect the sacrifices made by Ghanaians during the economic crisis and prevent the country from returning to similar financial difficulties.
Dr Forson assured Parliament that government would continue building financial buffers, strengthening fiscal discipline and implementing borrowing reforms to safeguard Ghana’s economic recovery and restore investor confidence.
The early repayment of the GH¢29 billion DDEP bonds and the planned settlement of the US$590 million Eurobond obligation are expected to form important parts of Ghana’s broader public debt management and economic stabilisation strategy.
Source: newsthemegh.com