Ghanaian-American comedian, Michael Blackson, has expressed his readiness to join the National Democratic Congress (NDC).
His excitement to join the party stems from the directive issued by President John Dramani Mahama to the Finance Ministry to settle Domestic Debt Exchange Programme (DDEP) coupons and build debt buffers through a Sinking Fund.
The Finance Ministry, according to a statement from the presidency honored a Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders on Monday February 17,2025.
The statement from the presidency, indicated that, the government has also honored the Payment-In-Kind (PIK) portion of GHS3.45 billion, which has been deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum.
The statement mentioned that, an amount of GHS9.7 billion has been paid into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the 5th DDEP coupon due in July and August 2025.
President Mahama emphasized his administration’s commitment to honouring all obligations under the DDEP.
“Through the 2025 budget Statement, Government will announce further measures that will help to restore market confidence in the economy, prioritize spending, and improve transparency and accountability in public finances.”
The statement highlighted government’s efforts to restore fiscal prudence and ensure value for every pesewa spent.
“Despite the challenging economy bequeathed by the previous administration, government is determined to bring back a stable Cedi, control spiraling inflation, and create jobs for the youth of our country”.
Michael Blackson had his $1.2 million investment trapped in Ghana’s domestic debt exchange programme (DDEP) and had lamented over it in past years.
Michael rejoicing to this move by the NDC has proclaimed, “As of today, I’m officially a member of the NDC party.”
See post:
I’m officially a member of the NDC… – Michael Blackson jubilates as government honours ₵6 billion Domestic Debt Exchange Program payment#GHOneNews #EIBNetwork #GHOneTV #NewsAlert pic.twitter.com/xY5XbJQSNX
— GHOne TV (@ghonetv) February 17, 2025
