Communications Director of the New Patriotic Party (NPP), Richard Ahiagbah has asserted that President John Dramani Mahama’s directive to build a debt buffer is unnecessary.
According to Ahiagbah, the Akufo-Addo-Bawumia administration had already put such a system in place.
In a Facebook post, Ahiagbah explained, “The Akufo-Addo-Bawumia government created the debt service reserve account, which handles buffers from T-bill auction surpluses, budgetary allocations for debt service, and transfers from the sinking fund to pay debt obligations.”
His comments come in response to President Mahama’s recent directive to Finance Minister Dr. Ato Forson to establish a financial buffer for upcoming debt payments.
However, Ahiagbah maintains that the framework is already operational. “The debt buffer that President Mahama is directing Dr. Ato Forson to build is already in place and working,” he stated.
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This rebuttal follows the government’s recent fulfilment of key debt obligations. On February 17, 2025, the Ministry of Finance honoured a Payment-In-Cash (PIC) coupon of GHS 6.081 billion to Domestic Debt Exchange Programme (DDEP) bondholders.
Additionally, a Payment-In-Kind (PIK) portion of GHS 3.46 billion was deposited into bondholders’ securities accounts per the DDEP Memorandum.
Further strengthening Ghana’s debt management strategy, the government also injected GHS 9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund) as a safeguard for the 5th DDEP coupon, which falls due in July and August 2025.
Felix Kwakye Ofosu, Spokesperson to the President and Minister of Government Communications, reiterated the administration’s commitment to maintaining fiscal discipline.
“Through the 2025 budget statement, the government will outline measures to restore market confidence, prioritize spending, and ensure transparency in public finances,” he stated.
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