The Government of Ghana, through the Ministry of Finance, has begun the process of settling the first coupon payment of bonds affected by the Domestic Debt Exchange Program (DDEP).
According to the Ministry, the mature coupons amount to 2.4 billion dollars and instructions have already been sent for settlement.
The DDEP was launched in 2022 in an effort to restructure Ghana’s unsustainable debt burden. Under the programme, eligible bondholders were given the option to exchange their old bonds for new bonds with lower interest rates and longer maturities.
The coupon payment for the affected bonds was agreed to be 5 percent, which was lower than the interest rates on the old bonds.
Source: CITI
