Instructions have been issued by the Ministry of Finance for the payment of the initial matured coupons of bonds within the Domestic Debt Exchange Programme (DDEP).
In February of this year, the government effectively restructured about GHC 87.76 billion worth of existing bonds into 16 fresh bonds featuring diverse maturity dates spanning from August 2027 to August 2038. The new bonds offer varying interest rates, ranging between 5% and 15%, with payments scheduled semi-annually.
Announcing the update via a Twitter post on Tuesday, August 22nd, the Finance Ministry conveyed that the disbursement aligns with the integrity of Ghana’s management of domestic debt.
“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,” MoF tweeted.
In all, the government is expected to settle nearly GHS 2.5 billion to bondholders by the close of today, Tuesday 22 August 2023.