DDEP: Govt reiterates its commitment to honour all future payment obligations

The Government of Ghana has expressed its profound appreciation to all stakeholders, especially bondholders who voluntarily responded to the national call and participated in the Domestic Debt Exchange Programme (DDEP).

The Finance Ministry said in a statement that under the terms and conditions of the DDEP, which was launched on 5th December, 2022, to complement Government’s fiscal programme, the first coupons of the tendered bonds were due on 22nd August, 2023.

Accordingly, on Tuesday, 22nd August, 2023, Government honoured its commitment and fully settled the first coupon due from the DDEP, in the amount of GH¢ 2,369,667,190.18, approximately 2.4 billion Ghana Cedis.

“The Government of Ghana hereby reiterates its commitment to honouring all future payment obligations, in accordance with the terms of the new arrangements.

“The New Bonds issued, now stand as the dominant instruments in our domestic bond market, laying the basis for a rapid recovery. Government further re-affirms its commitment to the success of the New Bonds and a credible and strong domestic securities trading market.

“The Ministry of Finance appreciates the sacrifices, forbearance and partnership of all Ghanaians, in helping the government to lead the nation to turn the corner towards restoring macroeconomic stability and inclusive growth,” the statement said.