The Ministry of Finance has been instructed by President John Mahama to pay unpaid coupons from the Domestic Debt Exchange Program (DDEP) and create a financial buffer through the Sinking Fund.
All DDEP bondholders received a Payment-In-Cash (PIC) coupon of GH₵6.081 billion on Monday, February 17, from the Ministry of Finance in accordance with this directive.
In compliance with the conditions specified in the DDEP Memorandum, bondholders’ securities accounts have also been credited with GH₵3.46 billion in Payment-In-Kind (PIK) funds.
The government has also contributed GH₵9.7 billion to the Debt Service Recovery Cedi Account (Sinking Fund) in order to bolster the nation’s debt management plan. The goal of this action is to provide wiggle room for the upcoming five DDEP coupon payments that are due in July and August of 2025.
In an effort to boost economic confidence, President Mahama reiterated his administration’s dedication to meeting all DDEP commitments.
He said that more steps to prioritize spending, maintain fiscal restraint, and improve transparency in public financial management will be outlined in the next 2025 Budget Statement.
Despite the economic difficulties left over from the previous administration, the government is concentrated on stabilizing the cedi, containing inflation, and generating employment.
The Mahama-led administration seeks to restore macroeconomic stability and guarantee value for each pesewa spent by enacting smart fiscal policies.
Source: myjoyonline.com