Accra: The Government has successfully paid GHS10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP), marking the sixth coupon settlement since the programme’s inception.
According to Ghana News Agency, this payment represents the second full cash settlement without any Payment-In-Kind component, indicative of the government’s strengthened fiscal capacity and improved solvency. A statement issued in Accra by the Ministry of Finance highlighted that the settlement addressed cedi-denominated DDEP coupon obligations, aligning with the restructuring memorandum and the Government’s broader debt management and fiscal consolidation strategy.
The statement noted that this timely payment has sent a strong positive signal to both domestic and international investors, bolstering market confidence and supporting Ghana’s credit outlook. The settlement is also anticipated to enhance stability within the financial sector, particularly among banks and pension funds that hold significant volu
mes of government securities.
The statement further assured that the Government remains fully committed to meeting all future DDEP obligations, a commitment underpinned by strong fiscal buffers, improving macroeconomic fundamentals, declining inflation, lower interest rates, and a stable cedi.
Ghana launched the Domestic Debt Exchange Programme in December 2022 as part of broader efforts to restore debt sustainability and macroeconomic stability following severe fiscal pressures that triggered one of the country’s worst economic crises in decades. The programme is a central element of Ghana’s debt restructuring agenda under a US$3 billion Extended Credit Facility arrangement approved by the International Monetary Fund (IMF) in May 2023. It aims to stabilize the economy, restore investor confidence, and rebuild foreign exchange buffers.
Under the programme, the Government restructured most domestic bonds to reduce interest costs and alleviate debt servicing pressures, thereby generating significant fiscal
relief and creating space for essential public spending. The IMF has commended Ghana’s progress, noting improvements in fiscal discipline, inflation control, and debt restructuring outcomes.
Analysts emphasize that the consistent and timely servicing of restructured debt obligations is crucial to sustaining market confidence, safeguarding financial sector stability, and supporting Ghana’s return to international capital markets.