In a major announcement during the presentation of the 2027 budget, Finance Minister Dr. Cassiel Ato Forson assured all bondholders under the previous government’s Domestic Debt Exchange Programme (DDEP) that every cedi owed will be paid in full, beginning next year.
Dr. Forson delivered the reassurance before Parliament on the night of November 12, 2026, emphasizing that funds are readily available to clear the outstanding debts. “The cash is ready,” he declared, urging bondholders whose bonds mature in February 2027 to come forward and claim their payments. “I repeat, to every DDEP bondholder whose bond falls due in February 2027, hear me clearly: your cash is ready. Come for your money! Now to every other DDEP bondholder, hear me clearly: every cedi owed to you, principal and interest, will be paid in full and on time.”
The Finance Minister announced the early redemption, effective immediately, of GH¢29 billion in bonds due in February 2027. He explained that the government has been diligent in meeting its obligations, citing the payment of GH¢10.8 billion to DDEP bondholders in August 2026, honoring the seventh coupon and the third full cash payment. Since 2025, total payments to DDEP bondholders have reached GH¢41.36 billion, while Eurobond holders have received US$2.1 billion over the same period.
Dr. Forson further noted that all obligations to bondholders who did not participate in the debt exchange have also been met. Looking ahead, GH¢40.1 billion of DDEP bonds, comprising GH¢29 billion in principal and GH¢11.1 billion in interest, will mature in February 2027. In August 2027, another GH¢12.5 billion will fall due. “In total, in February and August 2027 alone, about GH¢53 billion of DDEP bond obligations will fall due,” he said.
He assured Parliament that the Cedi Sinking Fund Account already holds GH¢29 billion, sufficient to cover the full principal repayment due in February. Government is also building buffers in the Debt Service Reserve Account to meet the GH¢11.1 billion interest payment and future obligations.
Reflecting on the broader debt restructuring process, Dr. Forson reported steady progress, despite the complexity of negotiating with a diverse group of creditors. Government has so far signed bilateral debt restructuring agreements with sixteen out of the twenty-four required countries, with four more expected by year-end. The remaining debt to be restructured, he noted, is now relatively small in the context of Ghana’s overall public debt portfolio.
“Government will intensify engagement with the outstanding creditors and pursue the required approvals to complete the process expeditiously, while safeguarding the comparability of treatment and Ghana’s debt sustainability objectives,” Dr. Forson concluded, giving hope to bondholders and signaling Ghana’s commitment to fiscal responsibility and creditor confidence.
Source: Apexnewsgh.com