Adnan Adams Mohammed
Participating individuals and corporate entities of the domestics debt exchange programme (DDEP) are likely to recover their delayed investment payment before end of 2026, the Finance Ministry has assured.
The debt restructuring resulting from the economic downturn caused by COVID-19, have delayed investment payout of all those who invested in treasury notes and bonds issued by the Government of Ghana.
However, the ministry expressed confidence that government’s long-term economic policies would lead to an economic rebound and significant improvements in the country’s macroeconomic indicators. Despite the challenges, government is committed to ensuring that those who have suffered losses will see a return on their investments within the next few years.
“I do not have any doubt that in a year or two, those who have lost money will recover their money”, Dr. Mohammed Amin Adams when speaking during a monthly press briefing, last week. “I know they will be smiling to the bank. It has taken us a lot of effort to bring this economy back to this state. Many people doubted, but I want to reassure you that this recovery is not by accident but by strong policies.”
The Finance Minister also addressed the country’s debt restructuring process, reiterating government’s pledge to honour all restructured debts in light of the economy’s positive outlook. He highlighted recent strong economic performance, which he believes will pave the way for the timely settlement of obligations.
Dr. Adams confirmed that government is on track to meet its obligations to Eurobond holders before the January 2025 maturity date, marking a second consecutive achievement in fulfilling its debt commitments. The successful payment of USD520 million in coupon obligations in October 2024 demonstrated the government’s determination to maintain its creditworthiness.
“Our next coupon payment will be 2nd January, we are ready. We are not going to default, we are ready,” he added.
