Government has announced an early redemption of GH¢29 billion in Domestic Debt Exchange Programme (DDEP) bonds falling due in February 2027, as part of plans to clear more than GH¢36 billion in domestic and external debt obligations ahead of schedule.
Finance Minister Dr Cassiel Ato Forson made the announcement on Thursday, November 12, 2026, when he presented the 2027 Budget Statement and Economic Policy to Parliament.
He said the early redemption, effective November 12, was intended to ease the government’s repayment obligations and demonstrate its commitment to meeting debt obligations without returning the country to the difficulties associated with the previous debt crisis.
According to the Minister, GH¢29 billion held in the Cedi Sinking Fund Account as of November 11 was sufficient to cover the full principal repayment of the February 2027 DDEP bonds.
Government is also building additional buffers in the Debt Service Reserve Account to meet GH¢11.1 billion in interest payments falling due in February 2027.
“TO HOLDERS OF THE FEBRUARY 2027 DDEP BONDS, this early redemption offer is there for you, and I invite you to take it,” Dr Forson told Parliament.
He further assured bondholders that all outstanding obligations would be honoured.
“Every cedi owed to you, principal and interest, will be paid in full and on time,” he said.
The announcement forms part of a broader debt repayment strategy involving both domestic and external obligations.
The Minister disclosed that US$590 million in Eurobond obligations would fall due on January 2, 2027, with another US$580 million due on July 2, 2027.
Government had accumulated approximately US$480 million in its US Dollar Sinking Fund Account as of November 11 and expected to increase the balance to about US$600 million by December 2026.
Dr Forson said the government intended to settle both the January Eurobond obligation and the February domestic bond repayment by December 31, 2026.
“Together, that is more than GH¢36 billion in debt to be cleared ahead of schedule,” he stated.
The budget also disclosed that Ghana’s provisional public debt stood at GH¢759.3 billion at the end of October 2026, representing 47.5 per cent of GDP.
Domestic debt accounted for 56.4 per cent of the total, while external debt represented 43.6 per cent.
The Minister said government would continue reducing its exposure to external debt to limit the impact of exchange-rate movements on the country’s debt stock.
He also announced plans to introduce a Loans Act in 2027 to strengthen borrowing controls and ensure that public loans are linked to development priorities and debt sustainability.
“Crisis taught us the cost of irresponsible borrowing. We owe our people the discipline to borrow responsibly and plan for repayment,” he said.
