In a recent statement, the immediate past Minister for Finance, Dr. Mohammed Amin Adam, shed light on the Akufo-Addo government’s Domestic Debt Exchange Programme (DDEP) payments.
According to Dr. Adam, the previous NPP government made three payments to DDEP bond holders totalling over GHC 27 billion between August 2023 and December 2024.
The first payment, made in August 2023, totaled GHS8.55 billion, comprising GHS5.42 billion in Payment-In-Cash (PIC) and GHS3.13 billion in Payment-In-Kind (PIK) deposits.
The second payment, made in February 2024, amounted to GHS9.11 billion, with GHS5.85 billion in PIC and GHS3.27 billion in PIK deposits.
The third payment, made in August 2024, totaled GHS9.35 billion, consisting of GHS5.98 billion in PIC and GHS3.38 billion in PIK deposits.
In addition to these payments, the government also paid coupons amounting to GHS515.17 million to individuals who did not tender their bonds between 2023 and 2024.
This payment was made in line with the Memorandum of Understanding (MoU) signed between the government and the Coalition of Individual Bondholders.
Dr. Adam noted that since the restructuring of the domestic debts, the previous NPP government has not defaulted on any coupon payments.
Furthermore, buffers were built in the Debt Reserves Accounts to support upcoming debt service obligations, such as the 4th coupon payments.
The NDC government has announced plans to make the 4th coupon payment, which is due on February 18, 2025.
This payment is expected to be made in accordance with the DDEP Memorandum.
