The ruling government has initiated the buildup of the Debt Service Recovery Cedi Account (Sinking Fund) with a payment of GHS9.7 billion.
The amount will serve as a buffer for the fifth Domestic Debt Exchange Programme (DDEP) coupon, due in July and August 2025.
This was contained in a statement issued and signed by Felix Kwakye Ofosu, Minister for Government Communications, on Monday, February 17, 2025.
According to the statement, this will help in alleviating the growing debt burden and ensure timely repayment of restructured obligations.
Aside from that, the Ministry of Finance has fulfilled the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders as of February 17, 2025.
The Ministry also deposited the Payment-In-Kind (PIK) portion of GHS 3.46 billion into bondholders’ securities accounts in accordance with the DDEP Memorandum.
“Through the 2025 Budget Statement, the government will introduce further measures to restore market confidence, prioritise spending, and enhance transparency and accountability in public finances,” the statement added.
By: Rainbowradioonline.com/Ghana
