The Minister-Designate for Finance, Dr. Cassiel Ato Forson, has pledged to address the negative impact of the Domestic Debt Exchange Programme (DDEP) on the Ghanaian economy and its citizens.
Speaking during his vetting session before the Appointments Committee of Parliament on January 13, 2025, Ato Forson, assured the public that his administration would take all necessary measures to remedy the challenges created by the debt restructuring programme.
The Domestic Debt Exchange Programme, introduced as a response to Ghana’s mounting debt crisis, has had far-reaching effects on both the country’s financial sector and its citizens.
The programme saw the restructuring of domestic bonds and debts, resulting in significant losses for creditors and a complex repayment schedule that has raised concerns about Ghana’s fiscal sustainability in the years to come.
Ato Forson, however, expressed his commitment to resolving these issues and ensuring that the country remains on a path toward financial recovery and economic stability.
He also outlined the payments that Ghana faces as part of the debt restructuring process. He revealed that in 2025, the country will need to repay GH¢12.6 billion as part of its obligations arising from the debt exchange.
“We will do whatever it takes to clear the harms that have been created as a result of the domestic debt restructuring. As a result of the debt restructuring, in 2025, we will have to repay GH¢12.6 billion and in 2016, we will have to repay another GH¢15.7 billion and we will have to pay GH¢53 billion in 2027.
“We have similar harms that have been created at the Eurobond side, you have billions of Dollars that we have to pay an we have already paid $364 million andother that are coming. In 2026, we will be compelled to pay $1 billion every year.”
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