The government has stated that it will make a payment of approximately GHC 2.4 billion in coupons for bonds contracted under the Domestic Debt Exchange Programme (DDEP).
This was revealed by the office of the Finance Minister in a Twitter (X) post on Tuesday, August 22, 2023.
“In line with government’s commitment to the continued success and credibility of Ghana’s domestic debt operations, instructions have gone out for the settlement of the ~GHC 2.4 billion first coupon payment of the DDEP, due today,” the Finance Minister’s office stated.
It added as follows: “New bonds now stand as the dominant instruments in our domestic bond market, laying the basis for rapid recovery. We remain committed to the success of the new bonds, and again thank all those who participated in the DDEP for their sacrifices.”
The domestic debt exchange programme, which commenced in December last year, chalked up over an 80% participation rate, which the government has described as successful.
The government, however, has stressed the need to explore other debt operation avenues in respect of cocoa bills, pension funds, and energy sector debts as part of the IMF programme.
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