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Deputy Finance Minister nominee, Thomas Nyarko Ampem, has called for a bipartisan approach in discussions regarding payments under the Domestic Debt Exchange Programme (DDEP). He stressed the need to focus on the positive market signals rather than politicizing the issue.
Speaking during his vetting before Parliament’s Appointments Committee on Monday, February 24, 2025, Ampem emphasized the significance of the payment provisions in restoring investor confidence. “I think we should concentrate on the good news that this sends or signals to the market,” he stated. He reassured stakeholders that adequate provisions had been made to ensure timely DDEP payments, reinforcing the government’s commitment to honoring its financial obligations.
Ampem further highlighted that fulfilling these payments on schedule would strengthen trust in Ghana’s financial sector and support the country’s economic recovery efforts. The Ministry of Finance has already disbursed GHS6.081 billion in Payment-In-Cash (PIC) coupons to all DDEP bondholders as of February 17, 2025. Additionally, the Payment-In-Kind (PIK) component of GHS3.46 billion has been credited to bondholders’ securities accounts in line with the DDEP Memorandum.
As part of measures to ensure financial stability, the Mahama administration has begun building up the Debt Service Recovery Cedi Account (Sinking Fund) with a GHS9.7 billion payment. This fund will serve as a buffer for the fifth DDEP coupon, due in July and August 2025.
“Through the 2025 Budget Statement, the government will introduce further measures to restore market confidence, prioritize spending, and enhance transparency and accountability in public finances,” stated Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications.
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