Thomas Nyarko Ampem, the Deputy Finance Minister nominee, has called for a non-partisan approach to discussions surrounding the Domestic Debt Exchange Programme (DDEP) payments. Apexnewsgh.com
Speaking during his vetting before the Appointments Committee of Parliament on Monday, February 24, 2025, Ampem emphasized the importance of focusing on the positive impact of the payment provisions rather than politicizing the development.
“I think we should concentrate on the good news that this sends or signals to the market,” Ampem stated. He highlighted that provisions have been made for DDEP payments, reassuring investors and stakeholders of the government’s commitment to honoring its obligations. This move, according to Ampem, will boost investor confidence and stabilize Ghana’s financial sector.
Ampem further noted that the timely fulfillment of DDEP payments will enhance market trust in Ghana’s economic recovery efforts. The Ministry of Finance has already fulfilled the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders as of February 17, 2025. Additionally, the Payment-In-Kind (PIK) portion of GHS3.46 billion has been deposited into bondholders’ securities accounts in accordance with the DDEP Memorandum.
The Mahama administration has also initiated a buildup of the Debt Service Recovery Cedi Account (Sinking Fund) with a payment of GHS9.7 billion as a buffer for the fifth Domestic Debt Exchange Programme (DDEP) coupon, due in July and August 2025.
Furthermore, the government plans to introduce additional measures to restore market confidence, prioritize spending, and enhance transparency and accountability in public finances through the 2025 Budget Statement.
Source: Apexnewsgh.com
