By Adnan Adams Mohammed
Ghana’s economic recovery marked a major milestone as the government fully disbursed GH¢10.8 billion in Domestic Debt Exchange Programme (DDEP) coupon payments on schedule, delivering a powerful signal of stability to local financial institutions and international credit markets.
The timely cash settlement, the largest single payout since the 2023 debt restructuring, brings total returns delivered to domestic bondholders over the past 18 months to GH¢41.36 billion.
The disbursement fulfills an explicit promise made by Minister for Finance, Dr. Cassiel Ato Forson, during the 2026 Mid-Year Budget Review in Parliament, where he assured lawmakers and the public that the government would honor its obligations to bondholders without delay.
Speaking during his mid-year address to Parliament, Dr. Ato Forson underscored that consistent cash settlements remain central to rebuilding trust among domestic creditors and international market participants.
“There was a time when the world doubted us. Today, every payment made on time answers that doubt, assuring bondholders in London, pension funds in New York, and investors at home that our word is our bond,” Dr. Ato Forson told Parliament. “Payment after payment, coupon after coupon, Ghana has proven one thing: We now keep our word. That is how market confidence is rebuilt—not through speeches, but through repayment.”
Following the transaction, the Ministry of Finance released an official statement confirming the disbursement and highlighting its macroeconomic significance for Ghana’s sovereign risk profile.
“In line with government’s commitment to the continued success and credibility of Ghana’s domestic debt operations, the payment was settled in full and on schedule,” the Ministry stated. “This timely settlement underscores the government’s fiscal discipline, reduces sovereign default risk, and reinforces the country’s financial credibility. All future DDEP obligations will also be paid in full and on schedule.”
Market analysts expect the GH¢10.8 billion liquidity injection into financial institutions, pension funds, and asset managers to improve local market liquidity while cementing Ghana’s broader economic recovery efforts following the completion of its domestic and external debt restructuring exercises.
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