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Deputy Finance Minister nominee Thomas Nyarko Ampem has called for a nonpartisan approach in discussions surrounding the Domestic Debt Exchange Programme (DDEP) payments, stressing the need to focus on the positive economic impact rather than political differences.
During his vetting before Parliament’s Appointments Committee on Monday, February 24, 2025, Ampem reassured investors and stakeholders that the government remains committed to honouring its financial obligations.
“I think we should concentrate on the good news that this sends or signals to the market,” he stated, highlighting that the timely fulfilment of DDEP payments will strengthen investor confidence and contribute to Ghana’s economic recovery.
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The Ministry of Finance has successfully disbursed the Payment-In-Cash (PIC) coupon of $488 million (GHS 6.081 billion) to all DDEP bondholders as of February 17, 2025.
Additionally, the Payment-In-Kind (PIK) portion of $277.5 million (GHS 3.46 billion) has been transferred into bondholders’ securities accounts, in line with the DDEP Memorandum.
In preparation for future obligations, the government has also deposited $785 million (GHS 9.7 billion) into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for upcoming payments due in July and August 2025.
Ampem emphasised that the 2025 Budget Statement will introduce further measures to reinforce market confidence, control government spending, and enhance fiscal transparency.
A statement signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, reaffirmed the administration’s commitment to stabilising Ghana’s economy while ensuring accountability in public finance management.
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