Finance Minister Dr. Cassiel Ato Forson has provided assurance to Ghana’s banking sector, emphasizing that the government has taken comprehensive steps to ensure that all obligations under the Domestic Debt Exchange Programme (DDEP) are met this year.
Speaking at a crucial meeting with over 22 Managing Directors of banks, he dismissed any concerns about potential defaults, firmly stating, “We do not intend to default.”
He went on to highlight that all outstanding holdouts have been resolved, and financial buffers have been established to guarantee that every DDEP commitment for the year will be fulfilled.
“All outstanding holdouts have been paid, and we have put in place the necessary buffers to ensure that every single DDEP obligation for this year will be met,” Dr. Forson emphasized.
Acknowledging the challenges faced in the past, the Finance Minister reassured stakeholders that the government has learned from previous experiences and is determined to uphold fiscal discipline moving forward. “We have learned from the past. We are not going to be reckless,” he assured the banking executives.
Dr. Forson also reiterated the government’s strong commitment to collaborating with financial institutions to foster a stable and prosperous economic environment.
“We have built the necessary buffers to meet our obligations, and we will work with you to ensure a stable and prosperous economy,” he concluded.
