President John Dramani Mahama has reassured bondholders of the government's commitment to fulfilling its debt obligations, emphasizing that every pesewa owed will be repaid in full.

Delivering the 2025 State of the Nation Address in Parliament, he highlighted the government's proactive approach to debt management, including the creation of financial buffers to ensure the timely repayment of both domestic and external debt.

“As we have done previously, we are building buffers in the sinking funds and adopting prudent debt management practices to ensure the prompt repayment of upcoming domestic and external debt maturities," he stated.

Mahama further disclosed that the government had successfully settled a matured coupon payment amounting to $6.081 billion in cash and $3.46 billion in kind for all domestic debt exchange programme bondholders due in February 2025.

“The good news is that we have built additional buffers in the sinking funds to honor the maturing bonds due in July and August. Bondholders can rest assured that they will be paid to the last pesewa that is owed them,” he affirmed.

His assurance comes amid heightened concerns about Ghana’s debt sustainability and the government's ability to meet its financial commitments.

Under the previous government, bondholders faced payment issues due to economic challenges and delays in debt servicing efforts by the government. Ghana's financial difficulties strained its ability to meet debt obligations, leading to delays in payments. The government initiated a Domestic Debt Exchange Programme (DDEP) to restructure its public debt, causing uncertainty and payment delays.

The terms of the debt restructuring resulted in significant investor losses, which led to resistance and a lack of participation in the program. Additionally, a general lack of confidence in the government's ability to manage the debt restructuring process effectively further complicated the situation. These factors collectively caused the payment problems experienced by bondholders, resulting in frustration and protests among the affected investors.