Government has paid about GH¢10bn ($780m) in interest to holders of bonds restructured under its Domestic Debt Exchange Programme (DDEP), the finance ministry has said.
The payment, made on Wednesday, represents the sixth coupon settlement since the programme was launched as part of efforts to stabilise the country’s public finances after a severe debt crisis.
According to the Ministry of Finance, the latest settlement is the second time interest obligations under the scheme have been met entirely in cash, without any payment-in-kind component. Officials say this reflects an improvement in the government’s fiscal position and its ability to meet debt obligations as they fall due.
The coupon payment covers cedi-denominated bonds exchanged under the programme, in line with the terms set out in the original restructuring agreement. The government says the settlement forms part of its wider debt management strategy and ongoing fiscal consolidation efforts aimed at restoring macroeconomic stability.
Authorities believe the timely payment will help reassure both domestic and international investors, many of whom were affected by the debt restructuring, and strengthen confidence in the country’s financial system. Banks and pension funds were among the largest holders of domestic bonds impacted by the exchange.
The government has pledged to continue meeting all future obligations under the programme, citing what it describes as improving economic conditions, including easing inflation, lower interest rates and a more stable local currency.
Ghana undertook the Domestic Debt Exchange Programme in 2023 as part of measures agreed with international creditors to secure financial support and restructure its unsustainable debt burden.
