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The Government of Ghana, through the Ministry of Finance, has successfully made a coupon payment of GHC9.7 billion under its Domestic Debt Exchange Programme (DDEP).
The payment, processed on Tuesday, August 19th, brings the total disbursements for DDEP-related obligations in 2025 alone to a substantial GHC19.4 billion.
This latest tranche, amounting to GHC9,698,815,220.17, is a direct fulfillment of the terms agreed upon in the Memorandum of Understanding governing the landmark debt exchange programme.
A statement from the Ministry’s Public Relations Unit hailed the payment as a demonstration of the government’s “unwavering commitment to honouring the terms outlined” in the DDEP agreement.
The timely settlement is strategically viewed as a critical step towards strengthening Ghana’s fiscal credibility and reassuring both domestic and international investors of the nation’s dedication to managing its debt obligations responsibly.
The announcement comes on the heels of the recent 2025 Mid-Year Fiscal Policy Review, where the government outlined enhanced mechanisms for future debt management. In a key development, the Ministry has established two dedicated sinking fund accounts as mandated by the Public Financial Management Act, 2016 (Act 921).
These accounts—a Cedi Sinking Fund and a US Dollar Sinking Fund—are designed to act as liquidity buffers, specifically earmarked to ensure the timely redemption of upcoming loan obligations. This proactive measure is expected to provide a stable foundation for managing bonds maturing in 2026, 2027, and 2028, thereby mitigating refinancing risks and smoothing the government’s debt repayment profile.
The establishment of these sinking funds and the consistent servicing of DDEP coupons signal a concerted
The Ministry insists there will be no defaults going forward. “Government assures investors and the public that subsequent debt obligations, including DDEP obligations, will be honoured fully and on time,” the statement read.
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