President John Dramani Mahama has reaffirmed his administration's commitment to honouring all obligations under the Domestic Debt Exchange Programme (DDEP) while taking steps to restore economic stability.
Directing the Ministry of Finance to act swiftly, he stated in a statement released on his behalf by Felix Kwakye Ofosu, thus, "Government has today honoured the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders." In addition, Mahama highlighted the government's adherence to the agreed framework, explaining, "We have also honoured the Payment-In-Kind (PIK) portion of GHS3.46 billion, which has been deposited into the respective bondholders' securities accounts in line with the DDEP Memorandum." He further stressed that his administration was taking proactive measures to manage future debt obligations, saying, "An amount of GHS9.7 billion has been paid into the Debt Service Recovery Cedi Account (Sinking Fund) as a buffer for the fifth DDEP coupon that will fall due in July and August 2025." Acknowledging the economic challenges inherited from the previous administration, Mahama assured Ghanaians that his government was committed to fiscal discipline and economic recovery. "Despite the difficult economic situation we met, we are determined to stabilize the Cedi, control inflation, and create jobs for our youth," he said.
Share this:Click to share on Facebook (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window) Related Topics:Feature Advertisement You may like He is a nuisance in the House - Tanko Rashid fires Annoh Dompreh Fake pink sheets were used to declare him - Tanko Rashid on NPP's Dompreh The NPP has learned nothing from their election defeat - Beatrice Annan Gofred Dame was a total embarrassment as Attorney General - Beatrice Annan fires Yaw Owusu Obimpeh wins Ashanti Region Council of State election Twifo Praso: Teenage girl and her boyfriend in police grips for stealing GHc40K and gold Education Minister announces reintroduction of PTA in public schools Council of State Re-Run in A/R: Police bar Adutwum, Kokofu, others from entry Criminologist calls for regulation of mobile money withdrawals to protect vendors Click to comment Leave a Reply Cancel replyYour email address will not be published.
Required fields are marked *Comment * Name Email Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam.
