Dr. Sharif Mahmud Khalid, Economic Policy Adviser to the Vice-President, has praised the government’s commitment to debt servicing under the Domestic Debt Exchange Programme (DDEP), emphasizing its importance for investor confidence and economic stability.
Following a directive from President John Dramani Mahama, the Ministry of Finance fulfilled the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders.
Additionally, the government honored the Payment-In-Kind (PIK) portion of GHS3.46 billion, credited to bondholders’ securities accounts per the DDEP Memorandum.
To further strengthen debt sustainability, GHS9.7 billion was also deposited into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the upcoming 5th DDEP coupon payments due in July and August 2025.
Speaking on Channel One Newsroom on Thursday, February 20, Dr. Khalid underscored the necessity of honoring financial commitments, highlighting the long-term benefits of government reliability.
“It is very important…It is a contract, you ought to oblige. It was a contract but it got broken, that is why we are here today and servicing that.
“So the ability for any government to service that or to commit to servicing that—the DDEP—ought to be commended,” he stated.
Dr. Khalid stressed that fulfilling obligations under the DDEP signals the government’s accountability and enhances investor confidence.
“What it does is that it injects investor confidence,” he added.
Read also
African countries must collaborate, not rely on aid – Akufo-Addo