The government has paid GH¢10,816,840,318.26 to bondholders under the Domestic Debt Exchange Programme (DDEP).

The Domestic Debt Exchange Programme (DDEP) is a government-led debt restructuring programme introduced in 2022 by the then NPP-led administration to reduce Ghana’s domestic debt-servicing costs by exchanging existing government bonds for new ones with longer maturities and lower interest rates.

The Finance Ministry announced this in a statement dated August 19 and shared it on its website and official social media platforms.

In February this year, the government made a coupon payment of about GH¢10.1 billion, and the August payment “brings the total amount paid to bondholders since 2025 to GH¢41.36 billion.”

The government has completed its third DDEP coupon payment in full, settling it in cash within the scheduled timeframe.

“This is the third DDEP coupon payment made fully in cash. It was paid in full and on schedule,” the statement said.

The government has reaffirmed its commitment to meeting its debt obligations, assuring bondholders and investors that future DDEP payments will also be made in full and on schedule.

“The timely payment demonstrates the Government's fiscal discipline and firm commitment to meeting all its debt obligations. It will strengthen investor confidence, reduce sovereign default risk and reinforce Ghana's financial credibility.

“The Government assures bondholders, investors and the public that all future DDEP obligations will also be paid in full and on schedule,” the statement added.

Disbursement in February

A payment of GH¢10 billion in interest was disbursed by the government under the Domestic Debt Exchange Programme (DDEP) in cash.

This marked the sixth interest payment under the programme and the second time bondholders had been paid entirely in cash. The payment followed the agreed terms outlined in the debt restructuring memorandum.

A statement from the Ministry of Finance read: “The Government of Ghana has paid GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP).

“This payment marks the sixth coupon settlement under the programme and represents the second full cash payment without any Payment-In-Kind component, reflecting strengthened fiscal capacity and solvency.

“The timely payment sends a strong positive signal to domestic and international investors, reinforces market confidence, and is expected to support Ghana’s credit outlook while enhancing stability within the financial sector, including banks and pension funds.”

Last year in August, the Ministry of Finance announced another successful coupon payment of GH¢9,698,815,220.17 under the Domestic Debt Exchange Programme.

According to information shared on Finance Minister Ato Forson’s X handle, the amount was paid on August 19, 2025. He wrote that, with the payment, total disbursements under the Domestic Debt Exchange Programme in 2025 alone stood at GH¢19.4 billion.

He added that the payment demonstrated the government’s unwavering commitment to honouring the terms outlined in the Memorandum of Understanding signed under the exchange programme. It was expected to strengthen investor confidence and support fiscal credibility.

He said that, in line with the 2025 Mid-Year Fiscal Policy Review, the government had established two dedicated sinking fund accounts, a Cedi Sinking Fund Account and a US Dollar Sinking Fund Account, as mandated by the Public Financial Management Act, 2016 (Act 921), as amended.