President John Dramani Mahama’s administration has made significant strides in fulfilling its obligations under the Domestic Debt Exchange Programme (DDEP).
The Ministry of Finance, under the President’s directive, has released a substantial GHS6.081 billion in Payment-In-Cash (PIC) coupons to DDEP bondholders today.
Beyond the cash injection, the government has also honored the Payment-In-Kind (PIK) component, injecting GHS3.46 billion directly into bondholders’ securities accounts, aligning with the DDEP Memorandum’s stipulations.
Looking ahead, the Mahama administration isn’t just meeting immediate needs.
A significant GHS9.7 billion has been strategically deposited into the Debt Service Recovery Cedi Account, also known as the Sinking Fund.
This substantial deposit acts as a financial safeguard, ensuring the government is well-prepared for the 5th DDEP coupon payment due in July and August of this year.
In a statement signed by Minister for Government Communications, Felix Kwakye Ofosu, President Mahama reiterated his unwavering commitment to fulfilling all obligations under the DDEP, a crucial step in rebuilding investor confidence and stabilizing the national economy.
The upcoming 2025 budget statement promises to unveil further strategic measures designed to achieve this. The focus will be on:
Restoring Market confidence, Prioritizing Spending and improving transparency, accountability and creating jobs for the teeming youths of the country.
Here is the government press release:
Source :www.kumasimail.com /Kwadwo Owusu
