The Ministry of Finance has re-affirmed government’s commitment in honouring its future payment obligations in the Domestic Debt Exchange Programme (DDEP).
This comes after government settled its first coupon payment on bonds from the DDEP of about ¢2.4 billion.
The government adopted the DDEP in 2022 as a means of controlling the country’s internal debt.
Holders of government securities had the option to exchange their bonds for longer-term bonds with lower interest rates under the scheme.
A statement released by the Finance Ministry on August 23, 2023, said government was grateful to all stakeholders who willingly participated in the programme, and assured them of fulfilling all obligations in the future.
“The government of Ghana expresses 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 Government of Ghana hereby reiterates its commitment to honouring all future payment obligations, in accordance with the terms of the new arrangements.”
The statement added that “The New Bonds issued, now stands 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.”
See full statement:
