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The Government of Ghana has expressed its sincere gratitude to all stakeholders, particularly bondholders who answered the national call and took part in the Domestic Debt Exchange Programme (DDEP). This significant initiative has marked a crucial milestone in bolstering the nation’s fiscal program and financial stability.
Initiated on 5th December 2022, the Domestic Debt Exchange Programme (DDEP) has gained traction as a complementary measure to the government’s overarching fiscal strategy. Designed to strengthen the country’s economic resilience, the DDEP aimed to restructure existing debt obligations. Notably, the first coupons of the tendered bonds, issued as part of the DDEP, came due on 22nd August 2023.
Demonstrating its steadfast commitment, the Government of Ghana duly honored its obligation on Tuesday, 22nd August 2023, by fully settling the first coupon of the DDEP. The settlement amounted to an impressive GH¢ 2,369,667,190.18, approximately 2.4 billion Ghana Cedis. This action underlines the government’s dedication to fulfilling its financial responsibilities and maintaining fiscal discipline.
Emphasizing the continuity of this proactive stance, the Government of Ghana reiterated its unwavering commitment to meeting future payment obligations within the terms of the restructured arrangements. The issuance of the New Bonds, now emerging as the predominant instruments in the domestic bond market, is heralding a path toward rapid economic recovery.
Furthermore, the government has emphatically reiterated its dedication to fostering the success of the New Bonds while concurrently building a robust, trustworthy, and vibrant domestic securities trading market. This renewed focus is set to galvanize confidence among investors and stakeholders, paving the way for increased market activity and investment opportunities.
The Ministry of Finance has extended its heartfelt appreciation for the collective efforts, patience, and collaboration of all Ghanaians. The nation’s steadfast commitment to financial stability and inclusive growth is reflected in the efforts of its citizens and the proactive initiatives taken by the government. This partnership has been instrumental in steering the country towards regaining macroeconomic equilibrium.
The successful execution of the Domestic Debt Exchange Programme (DDEP) has demonstrated Ghana’s ability to strategically address financial challenges while ensuring the welfare of its citizens. The voluntary participation of bondholders has fortified the nation’s economic foundation and signaled the willingness of stakeholders to contribute to the country’s prosperity.
If the Government continues its pursuit of economic progress and financial stability, citizens then can capitalize on opportunities, overcome challenges, and work together to realize the nation’s growth potential.
