Government Settles First Coupon For Bonds Affected By DDEP

The Ministry of Finance has issued instructions for the settlement of first matured coupons of bonds under the Domestic Debt Exchange Programme (DDEP).

Government in February this year successfully restructured some GHC 87.76 billion of existing bonds to 16 new bonds with varied maturing dates ranging from August 2027 up until August 2038, while offering varied interest rates of up between 5% – 15% on the new bonds to be paid semi-annually.

Sharing the development on Twitter on Tuesday (22 August), the Finance Ministry said on its handle that the payment is in line with the credibility of Ghana’s domestic debt operation.

“In line with the government’s commitment to the continued success and credibility of Ghana’s domestic debt operations, instructions have gone out for the settlement of the GHC 2.4 billion first coupon payment of the DDEP, due today, MoF tweeted.

 

In line with government’s commitment to the continued success and credibility of Ghana’s domestic debt operations, instructions have gone out for the settlement of the ~GHC 2.4 billion first coupon payment of the DDEP, due today. #ResolvingTogether #GhanaRising 1/2

— Office of the Finance Minister-Ghana (@oofmghana) August 22, 2023

 

 

New bonds now stand as the dominant instruments in our domestic bond market, laying the basis for rapid recovery. We remain committed to the success of the new bonds, and again thank all those who participated in the DDEP for their sacrifices. #ResolvingTogether #GhanaRising 2/2

— Office of the Finance Minister-Ghana (@oofmghana) August 22, 2023

 

 

In all, the government is expected to settle nearly GHS 2.5 billion to bondholders by the close of today, Tuesday 22 August 2023.

 

 

 

 

 

 

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