President John Dramani Mahama announced during his 2025 State of the Nation address (SONA) has announced an update to one of the most contentious decisions taken by the previous government in - the debt exchange program.
Speaking during his SONA, the President called on bondholders to be calm because this government would honor all obligations and everyone will be paid in full."Bondholders can rest assured that they will be paid up to the last pesewa," Mahama said.
The debt exchange program which was introduced by the NPP government after borrowing so much they began to default on their debts, was an IMF conditionality to access a $3m facility.
The deeply unpopular program saw many bondholders losing their investments and others being presented with patently unfair terms that they had no choice but to sign up to.
