Ghana Announces GH¢15.38 Billion Domestic Financing Plan Ahead of 2027 Bond Maturities

Ghana’s government plans to raise GH¢15.38 billion in net domestic financing between October and December 2026, partly to support planned buybacks of bonds issued under the Domestic Debt Exchange Programme (DDEP) that mature in 2027.

The borrowing target is contained in the government’s fourth-quarter issuance calendar, which outlines its financing plans for the final three months of the year.

According to the calendar, the target takes into account projected domestic debt maturities and the outstanding net domestic financing requirements under the 2026 Mid-Year Fiscal Policy Review Framework.

The government intends to mobilise the funds through Treasury bills and medium- to long-term government securities, depending on prevailing market conditions.

Treasury bills with maturities of 91, 182 and 364 days will be issued weekly through primary market auctions.

The government also plans to issue medium- to long-term securities to establish benchmark bonds across the yield curve.

The issuance calendar further outlines plans for liability management operations, including the repurchase of DDEP bonds scheduled to mature in 2027.

The government indicated that these operations, alongside other considerations, have made the full operationalisation of the sinking fund necessary.

The planned bond buybacks form part of broader efforts to manage the country’s domestic debt obligations and strengthen debt sustainability.

Meanwhile, the wider issuance programme is intended to provide greater certainty for investors and support the development of Ghana’s domestic capital market.

The government said the calendar would promote transparency and enable market participants to make informed investment decisions by providing a clearer outlook on its borrowing activities.

However, the GH¢15.38 billion target represents net domestic financing rather than the total value of government securities to be issued during the quarter.

Source: https://www.citinewsroom.com/2026/10/government-targets-gh¢15-38bn-q4-borrowing-as-ddep-buybacks-loom/

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