The Government of Ghana has paid GH¢10.82 billion to bondholders under the Domestic Debt Exchange Programme (DDEP), fulfilling its latest coupon obligation in full and on schedule.
The Ministry of Finance said the payment amounted to GH¢10,816,840,318.26, marking another major scheduled payment under Ghana’s domestic debt restructuring programme.
The latest payment brings the total amount paid to DDEP bondholders since 2025 to GH¢41.36 billion, according to the Ministry.
Third DDEP coupon paid entirely in cash
The Ministry of Finance said the latest GH¢10.8 billion payment is the third DDEP coupon payment to be made entirely in cash.
The development is significant as Ghana continues efforts to restore confidence in its domestic debt market following the financial pressures that led to the implementation of the Domestic Debt Exchange Programme.
The DDEP formed a central part of Ghana’s broader debt restructuring strategy, under which existing domestic bonds were exchanged for new instruments with revised terms.
The programme affected several categories of investors, including financial institutions, pension funds, insurance companies and individual bondholders.
Government highlights fiscal discipline
According to the Ministry of Finance, the timely payment demonstrates the government’s commitment to fiscal discipline and its obligation to honour debt-service commitments.
The Ministry said the payment is expected to contribute to strengthening investor confidence, reducing Ghana’s sovereign default risk and improving the country’s financial credibility.
The government has also assured bondholders, investors and the general public that future DDEP obligations will continue to be paid in full and on schedule.
GH¢41.36bn paid to DDEP bondholders since 2025
The latest payment adds to a series of obligations the government has settled under the debt restructuring programme.
Prior to the latest payment, Finance Minister Dr Cassiel Ato Forson had assured Parliament and investors that the GH¢10.8 billion coupon due on August 18, 2026, would be paid on time and in full.
Presenting the 2026 Mid-Year Budget Review in Parliament in July, Dr Forson said the government had already honoured an earlier DDEP coupon payment of GH¢10.1 billion on February 17, 2026.
He described the government’s ability to meet its debt obligations as part of efforts to rebuild investor confidence following the economic difficulties that preceded the debt restructuring.
The successful payment of the latest coupon therefore represents another test of Ghana’s ability to maintain its debt-service commitments while implementing measures aimed at restoring fiscal stability.
What the DDEP means for investors
Ghana’s Domestic Debt Exchange Programme was introduced as part of efforts to restructure the country’s debt and restore debt sustainability.
Under the programme, holders of eligible domestic bonds exchanged their existing securities for new instruments with different maturity and interest-payment terms.
The government’s continued settlement of DDEP coupons is closely watched by investors because timely payments can help strengthen confidence in Ghana’s domestic capital market.
The Ministry of Finance’s latest announcement is therefore expected to provide reassurance to bondholders and other market participants regarding the government’s commitment to meeting its obligations.
With GH¢41.36 billion now paid to DDEP bondholders since 2025, attention will remain on the government’s ability to sustain timely payments while managing other domestic and external debt obligations.
