Finance Minister Dr Cassiel Ato Forson has assured holders of GH¢29 billion in domestic debt exchange bonds that government is ready to pay them, announcing an early redemption offer for bonds originally due in February 2027.
Addressing Parliament during the presentation of the 2027 Budget on Thursday, November 12, the Finance Minister invited affected bondholders to receive their money from November 12, rather than wait until the scheduled maturity date.
“I REPEAT, TO EVERY DDEP BONDHOLDER whose bond falls due in February 2027, hear me clearly: YOUR CASH IS READY. COME FOR YOUR MONEY!” he declared.
The announcement forms part of government’s plan to settle the February 2027 domestic bond by December 31, 2026.
Dr. Forson also sought to reassure other investors whose bonds were included in the domestic debt restructuring, promising that government would honour all outstanding payments.
“Every cedi owed to you, principal and interest, will be paid in full and on time,” he said.
Beyond the domestic bond repayment, government is preparing to settle a US$590 million Eurobond obligation due on January 2, 2027.
The Finance Minister said the two payments, when combined, would amount to more than GH¢36 billion in debt cleared ahead of schedule by the end of December.
He described the planned repayments as evidence of government’s commitment to responsible debt management and the protection of Ghana’s financial credibility.
Ghana’s Domestic Debt Exchange Programme formed a major part of the country’s debt restructuring following its economic and fiscal difficulties.
The programme involved exchanging existing domestic bonds for new instruments with revised terms, including changes to repayment schedules.
Dr. Forson said the previous administration had deferred significant DDEP repayment obligations, leaving substantial amounts due in 2027 and 2028.
He warned that the structure had placed the country at risk of another debt default.
“In our assessment, that repayment structure set Ghana up for another debt default,” he told Parliament.
The Finance Minister said government was determined to avoid a repeat of the debt crisis and was introducing financing and borrowing reforms to improve the management of public debt.
He added that the sacrifices made by Ghanaians during the restructuring process made it necessary for government to borrow responsibly and plan adequately for repayment.
