DDEP: Govt reiterates its commitment to honour all future payment obligations

Bondholders who voluntarily reacted to the national appeal and participated in the Domestic Debt Exchange Programme (DDEP) have been singled out for particular thanks by the Ghanaian government, which has sent its heartfelt appreciation to all parties involved.

According to a statement released by the Ministry of Finance, in accordance with the terms and conditions of the DDEP, which was initiated on the 5th of December 2022 to supplement the Government's budgetary program, the first coupons of the tendered bonds were due on the 22nd of August 2023. This information was included in the statement.

Therefore, on Tuesday, the 22nd of August 2023, the Government kept its word and completely settled the first coupon that was due from the DDEP. The total sum that was settled was GH 2,369,667,190.18, which is equivalent to roughly 2.4 billion Ghana Cedis.

"The Government of Ghana reaffirms its commitment, through this document, to honoring any future payment commitments in accordance with the terms of the new arrangements.

"The New Bonds issued are now the preeminent instruments in our domestic bond market, laying the groundwork for a speedy recovery," said the Treasury Department. The government reaffirms its dedication to the achievement of its goals, including the success of the New Bonds and the maintenance of a reputable and robust domestic securities trading market.

The statement included the following passage: "The Ministry of Finance appreciates the sacrifices, forbearance, and partnership of all Ghanaians, in helping the government to lead the nation to turn the corner towards restoring macroeconomic stability and inclusive growth,"