President Nana Akufo-Addo has said that his government has fulfilled its pledge of settling the last coupons owed bondholders who signed up to the Domestic Debt Exchange Programme (DDEP)
The programme was introduced in 2023 as part of government’s plan to meet its revenue target to reach an agreement with the International Monetary Fund (IMF).
The DDEP targeted individual and pension bondholders in the country amidst stiff opposition from the Minority in parliament.
During his final State of the Nation address on Tuesday, February 27, Akufo-Addo revealed that GH¢5.8 billion has been paid to the bondholders.
He stated, “For the last leg of the domestic debt exchange on September 5, 2023, a week ago last Tuesday, on February 20, 2024, the second coupon of GH¢5.8 billion was paid to domestic bondholders. This is the largest coupon paid in a day in Ghana’s history.”
Touching on the external debt side, the president said his government has achieved a significant milestone by reaching an agreement with Ghana’s bilateral creditors.
“I will use this occasion to thank the Republic of China and France, co-chairs of the official creditors committee for their positive roles in this achievement.
“We have also intensified our engagement with our external bondholders on the principles of transparency, fair treatment consistent with the IMF debt sustainability analysis and good faith. We are focused and committed to accelerating the process,” he stated.
Source: Myxyzonline.com
