By Elsie Appiah-Osei
Accra, Jan 13, GNA – Dr Cassiel Ato Baah Forson, the Finance Minister-designate, has pledged to tackle the negative impact of the Domestic Debt Exchange Programme (DDEP) on Ghana’s economy.
Speaking during his vetting at the Appointments Committee of Parliament on Monday, Dr Forson gave the assurance that his ministry would take the necessary measures to remedy the alleged challenges created by the programme.
The DDEP, introduced by the Nana Addo Dankwa Akufo-Addo led-government, was to address Ghana’s mounting debt crisis.
The programme saw the restructuring of domestic bonds and debts, resulting in alleged significant losses for creditors and a complex repayment schedule that had raised concerns about Ghana’s fiscal sustainability.
Dr Forson revealed that Ghana faced significant payments as part of the debt restructuring process, including: “GH¢12.6 billion in 2025, GH¢15.7 billion in 2026, and GH¢53 billion in 2027.”
“…Mr Chairman, we will do whatever it takes to clear the harms that have been created as a result of the domestic debt restructuring,’’ he said.
“As a result of the debt restructuring, in 2025, we will have to repay GH¢12.6 billion and in 2026, we will have to repay another GH¢15.7 billion and we will have to pay GH¢53 billion in 2027.”
Ghana had already paid “…$364 million and will be compelled to pay $1 billion every year starting from 2026,” he added.
Despite these challenges, Dr Forson expressed his commitment to resolving the issues and ensuring Ghana remained on a path toward financial recovery and economic stability.
His administration plans to take a robust approach to address the challenges created by the DDEP, including improving compliance and reducing wasteful spending within the Government.
GNA