GH¢9.7bn coupon under debt exchange paid by Government

The Ministry of Finance has announced the successful payment of GH¢9.7 billion in coupons under the Domestic Debt Exchange Programme (DDEP).

In a press release issued on Tuesday, August 19, the Ministry confirmed that an amount of GH¢9,698,815,220.17 was disbursed to settle the latest obligation. This brings total disbursements under the DDEP for 2025 alone to GH¢19.4 billion.

The Ministry explained that the payment demonstrates the government’s firm commitment to honouring the terms agreed with investors under the Memorandum of Understanding that guided the debt exchange. Officials noted that this step is expected to strengthen investor confidence and support fiscal credibility.

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The release further outlined new measures introduced under the 2025 Mid-Year Fiscal Policy Review to guarantee future repayments. These include the creation of two dedicated sinking fund accounts — one in cedis and another in US dollars — established in line with the Public Financial Management Act, 2016 (Act 921), as amended. According to the Ministry, these funds will serve as liquidity buffers to ensure the redemption of bonds maturing in 2026, 2027, and 2028.

“Government assures investors and the public that subsequent debt obligations, including DDEP obligations, will be honoured fully and on time,” the statement emphasized.

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The Domestic Debt Exchange Programme, launched in December 2022, was introduced as part of measures to address Ghana’s unsustainable debt levels. It involved replacing existing domestic bonds with new ones of longer tenors and lower coupon rates. The programme was a critical condition in Ghana’s deal with the International Monetary Fund, paving the way for a US$3 billion support package.