Gov’t Pays GH¢10bn DDEP Coupon (Cash Settlement Signals Stronger Fiscal Position)
The government has paid bondholders GH¢10 billion in interest as part of the Domestic Debt Exchange Programme (DDEP). This is the sixth coupon settlement and the second one that was made entirely in cash, without any Payment-In-Kind component. This shows that the government’s finances are getting stronger and more liquid. A source in the Finance Ministry says that the payment covers cedi-denominated obligations under the restructuring memorandum and boosts investor confidence. In August 2025, the government paid GH¢9.69 billion, bringing the total for last year to GH¢19.4 billion. They also set up Cedi and US Dollar Sinking Funds to help with payments due from 2026 to 2028. The DDEP started in 2022 as part of Ghana’s recovery efforts under the International Monetary Fund Extended Credit Facility program. It has cost an estimated GH¢61.7 billion and restructured more than GH¢203 billion in domestic debt. This has had a big effect on the financial sector and the Bank of Ghana, which lost more than GH¢60 billion. Governor Dr. Johnson Asiama recently said that the central bank would be recapitalized to restore its balance sheet and keep monetary policy credible.
