Government has never been broke until DDEP – Alhassan Andani

Former Stanbic Bank CEO Alhassan Andani expressed deep disappointment with Ghana’s financial state, citing the Domestic Debt Exchange Programme (DDEP) as a troubling milestone.

At the Ghana CEO-Presidential Gala Dinner, Andani, with over 30 years in banking, called the DDEP an unprecedented sign of financial distress that has eroded confidence in government reliability.

The DDEP, introduced to restructure Ghana’s mounting debt by swapping bonds for lower-interest, longer-maturity options, adversely impacted private bondholders and the banking sector.

Andani urged policymakers to phase out non-essential programs to allow private sector recovery, stressing that sustainable growth depends on private capital stability.