President John Dramani Mahama has directed the Ministry of Finance to settle outstanding Domestic Debt Exchange Programme (DDEP) coupons and strengthen debt buffers through the Sinking Fund.

Felix Kwakye Ofosu, spokesperson to the president, announced that the government has honoured a Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders.

Additionally, a Payment-In-Kind (PIK) portion of GHS3.46 billion has been deposited into bondholders’ securities accounts as per the DDEP memorandum.

To ensure stability for future payments, the government has also allocated GHS9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund) to serve as a buffer for the fifth DDEP coupon due in July and August 2025.

Read Also: Wontumi Lied to Me About Mahama – Owusu Bempah Confesses

“President Mahama is committed to honouring all obligations under the DDEP. Through the 2025 Budget Statement, further measures will be announced to restore market confidence, prioritize spending, and improve transparency,” Kwakye Ofosu stated.

Despite inheriting a challenging economy, the government remains determined to stabilize the cedi, control inflation, and create jobs for the youth. “We seek to restore fiscal prudence while ensuring value for every pesewa spent,” he added.

Don’t miss out! Get your daily dose of Entertainment news and more straight to your phone. Join Ghana Street Journal Whatsapp channel now!