Prime News Ghana

DDEP: All coupon payments, maturing principals will be paid – Gov’t assures bondholders

By Vincent Ashitey
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Government has assured all bondholders who did not participate in the rolled out Domestic Debt Exchange Programme (DDEP) that their coupons and maturing principals will be paid.

It said the payment will be honoured in line with government’s fiscal commitments like for all other government bonds.

This comes after the Government’s Domestic Debt Exchange Program (DDEP) closed on Friday, February 10 2023 with over 80% participation of eligible bonds as announced by the Ministry of Finance.

Some senior citizens have been picketing the Finance Ministry to protest the inclusion of pension funds in the domestic debt exchange programme for days despite the closure.

In a statement, the Ministry of Finance also expressed gratitude to all bondholders who voluntarily participated in the Domestic Debt Exchange Programme (DDEP).

“The Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times.”

The DDEP according to the government is being done to help protect the economy and enhance our capacity to service our public debts effectively.

“The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.

“The Government is, therefore, grateful for the overwhelming participation of all bondholders.

It said by the participation of the voluntary bondholders after the closure of the Programme on Friday, the country has inched closer towards securing the $3billion extended credit facility (ECF) from the International Monetary Fund (IMF).

“Your support and contribution has gotten your country much closer to securing the IMF programme.”