By Iddi Yire
Accra, Feb 17, GNA – The Ministry of Finance on Monday honoured the Payment-in-Cash (PIC) coupon of GHS6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
A statement issued by Mr Felix Kwakye Ofosu, Spokesperson to the President and Minister of State in-charge of Government Communications, copied to the Ghana News Agency, said the payment followed a directive from President John Dramani Mahama.
It said the Government had 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.
It said additionally, Government had also paid into the Debt Service Recovery Cedi Account (Sinking Fund) an amount of GHS9.7 billion as a buffer for the 5th DDEP coupon that would fall due in July and August, 2025.
“President Mahama is committed to the Government’s honouring of all obligations under the DDEP,” it said.
“Through the 2025 Budget Statement, 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.”
It said ultimately, Government seeks to restore fiscal prudence while ensuring value for every pesewa spent.
The statement said despite the challenging economy that was bequeathed by the previous administration, Government was determined to bring back a stable Cedi, control spiralling inflation and create jobs for the teeming youth.
GNA