Government pays GH¢10.8 billion DDEP coupon in full and in cash

• Government has paid GH¢10.8 billion to DDEP bondholders in full and in cash.

• The payment brings total DDEP coupon settlements since 2025 to GH¢41.36 billion.

• The Finance Ministry says the payment will strengthen investor confidence and reinforce Ghana's financial credibility.

The Ministry of Finance announced the payment in a statement dated Wednesday, August 19, 2026, saying the amount was settled in full and on schedule.

The latest payment brings the total amount paid to DDEP bondholders since 2025 to GH¢41.36 billion, according to the Ministry.

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It is the third DDEP coupon payment to be made entirely in cash, without a Payment-In-Kind (PIK) component.

"The timely payment demonstrates Government's fiscal discipline and firm commitment to meeting all its debt obligations," the Ministry said.

It added that the latest settlement "will strengthen investor confidence, reduce sovereign default risk and reinforce Ghana's financial credibility."

The Ministry also assured bondholders, investors and the public that "all future DDEP obligations will also be paid in full and on schedule."

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The DDEP was introduced in December 2022 as a key component of Ghana's debt restructuring programme, following the country's 2022 sovereign debt default.

The programme involved exchanging existing domestic government bonds for new instruments with longer maturities and revised coupon rates. The objective was to reduce the government's immediate debt-servicing obligations and help restore fiscal and macroeconomic stability.

The restructuring initially faced resistance from some pensioners and individual bondholders who raised concerns about the impact on their investments.

Government has since highlighted its record of coupon payments as part of efforts to restore confidence in the domestic debt market.

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The first DDEP coupon payment of GH¢2.37 billion was made in August 2023.

Coupon payments have generally been made twice a year. In February 2025, government paid a GH¢6.081 billion cash coupon alongside a GH¢3.46 billion PIK component.

This was followed by a GH¢9.7 billion cash payment in August 2025.

Government has also established two sinking fund accounts, denominated in cedis and US dollars, under the Public Financial Management Act to build liquidity buffers for bonds maturing between 2026 and 2028.

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Finance Minister Dr Cassiel Ato Forson has linked the regular settlement of DDEP obligations to government's broader efforts to rebuild confidence among domestic and international creditors.

The latest payment comes as Ghana continues to implement fiscal reforms aimed at reducing debt vulnerabilities and strengthening the country's financial position.

The Ministry said the payment demonstrates government's commitment to meeting its obligations and maintaining confidence in Ghana's domestic debt market.