Cassiel Ato Forson is the Minister for Finance
The Ministry of Finance has officially announced the expiration of restrictions on new domestic bond issuance, describing the development as a major milestone in Ghana’s fiscal recovery.
According to the Ministry, “the three-year restriction measure was imposed in 2023 to prevent Government from issuing new bonds following the debt default that preceded the Domestic Debt Exchange Programme (DDEP).”
The measure was intended to stabilise the domestic debt market during a period of economic restructuring.
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The Ministry highlighted that the expiration comes “at a time when inflation is low, investor confidence has improved, and the macroeconomic environment is strong, supported by a robust medium-term debt management strategy and significant buffers.”
The statement noted that Ghana’s commitment to meeting its debt obligations has reinforced investor confidence.
“Since 2025, the Government has honoured every coupon payment and obligation under the restructured bonds, demonstrating its credibility, fiscal discipline, and commitment to responsible debt management,” the Ministry stated.
The lifting of the restriction is expected to give the government greater flexibility in its financing strategy.
“The expiration of the restrictions paves the way for government to drastically reduce its dependence on Treasury bills to finance its budget and allows for the issuance of new longer-dated domestic bonds,” the Ministry explained.
The administration of President John Dramani Mahama expressed gratitude to Ghanaians for their patience during the challenging period.
“The Government is once again deeply grateful to the Ghanaian people for their forbearance and cooperation during the difficult period,” the statement said.
See the full statement below:
NA/MA
