The Government has paid GHS10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP), marking the sixth coupon settlement since the programme began.
The payment represents the second full cash settlement without any Payment-In-Kind component, reflecting strengthened fiscal capacity and improved solvency.
A statement issued in Accra by the Ministry of Finance, said the settlement covered cedi-denominated DDEP coupon obligations in line with the restructuring memorandum and the Government’s broader debt management and fiscal consolidation strategy.
It said the timely payment sent a strong positive signal to domestic and international investors, reinforced market confidence, and was expected to support Ghana’s credit outlook.
The statement explained that the settlement would also enhance stability within the financial sector, particularly, among banks and pension funds, which hold significant volumes of government securities.
“The Government remains fully committed to meeting all future DDEP obligations,” it said, adding that this commitment was supported 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 after severe fiscal pressures triggered one of the country’s worst economic crises in decades.
The programme formed a central pillar 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 aimed at stabilising the economy, restoring investor confidence, and rebuilding foreign exchange buffers.
Under the programme, the Government restructured most domestic bonds to reduce interest costs and smoothen debt servicing pressures, generating significant fiscal relief and creating space for critical public spending.
The IMF has since commended Ghana’s progress, noting improvements in fiscal discipline, inflation control, and debt restructuring outcomes.
Analysts say the consistent and timely servicing of restructured debt obligations is vital to sustaining market confidence, safeguarding financial sector stability, and supporting Ghana’s return to international capital markets.
