President John Dramani Mahama has honoured the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
This follows a directive from President Mahama to settle all Domestic Debt Exchange Programme (DDEP) bondholders.
The Mahama government have a (PIK) portion of GHS3.46 billion credited into the respective bondholders’ securities accounts.
Spokesperson to the President and Minister, of Government Communications, Felix Kwakye Ofosu made this known in a statement issued on Monday, February 17, 2025.
Felix Kwakye Ofosu asserted that President Mahama is committed to the government honouring all obligations under the DDEP.
The statement reads, “Following a directive from President John Dramani Mahama, the Ministry of Finance has today, 17th February 2025, honoured the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
The government has also honoured the Payment-In-Kind (PiK) portion of GHS3.46 billion, deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum”.
The statement further added that the government has also paid into the Debt Service Recovery Cedi Account (Sinking Fund)an amount of GHS9.7 billion.
Felix Kwakye’s statement added, “ Additionally, the Government has also paid into the Debt Service Recovery Cedi Account (Sinking Fund)an amount of GHS9.7 billion as a buffer for the 5′ DDEP coupon that will fall due in July and August 2025”.
“President Mahama is committed to the government’s honouring of all obligations under the DDEP. Through the 2025 budget Statement, the Government will announce further measures that will help to restore market confidence in the economy, prioritise spending and improve transparency and accountability in public finances”, he added.
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