The Minister-Designate for Finance, Dr. Cassiel Ato Forson, has vowed to tackle the adverse effects of Ghana’s Domestic Debt Exchange Programme (DDEP) on the economy and its citizens.
Speaking during his vetting before Parliament’s Appointments Committee on January 13, 2025, Dr. Forson assured Ghanaians that his administration would take decisive steps to mitigate the challenges posed by the debt restructuring initiative.
The DDEP was introduced to address Ghana’s escalating debt crisis but has resulted in significant losses for creditors and created concerns over the country’s fiscal sustainability.
The programme involved restructuring domestic bonds and debts, leading to a complex repayment schedule that has strained both the financial sector and ordinary citizens.
Dr. Forson outlined Ghana’s payment obligations arising from the DDEP, revealing that the country must repay GH¢12.6 billion in 2025, GH¢15.7 billion in 2026, and a staggering GH¢53 billion in 2027.
He also highlighted the burdens stemming from Eurobond debt, including $364 million already paid and a $1 billion annual repayment obligation starting in 2026.
“We will do whatever it takes to address the harms caused by the domestic debt restructuring. These obligations present a daunting challenge, but we are committed to ensuring Ghana remains on a path to financial recovery and economic stability,” Dr. Forson emphasized.
He reassured the public that his team would prioritize policies to stabilize the economy, restore investor confidence, and protect vulnerable groups affected by the programme.
READ ALSO: