By: Franklin ASARE-DONKOH
The government has set up a Debt Service Recovery Cedi Account (Sinking Fund) with a payment of GHS9.7 billion as a buffer for the fifth Domestic Debt Exchange Programme (DDEP) coupon, due in July and August 2025.
Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu disclosed this in a statement issued yesterday, Monday, February 17, 2025.
The statement maintained that government remains committed to restoring fiscal discipline, stabilizing the cedi, curbing inflation, and creating jobs for the youth, despite inheriting a challenging economic situation from the previous administration.
The government’s contribution to the fund aims to alleviate the growing debt burden and ensure timely repayment of restructured obligations.
“Through the 2025 Budget Statement, the government will introduce further measures to restore market confidence, prioritize spending, and enhance transparency and accountability in public finances,” the statement added.
Meanwhile, the Ministry of Finance has fulfilled the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders as of February 17, 2025.
Additionally, the Payment-In-Kind (PIK) portion of GHS3.46 billion has been deposited into bondholders’ securities accounts in accordance with the DDEP Memorandum.
