Ghana Pays GH¢10bn in DDEP Interest, Signals Strong Fiscal Recovery

• Ghana has paid GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme, marking the sixth coupon settlement since its launch
• The Ministry described it as the second full cash payment made without any Payment-In-Kind component, signalling improved fiscal strength and solvency
• Government said the timely settlement reinforces investor confidence and underscores its commitment to meeting future DDEP obligations

The Government of Ghana has announced the payment of GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP).

In a statement released on Wednesday, February 18, 2026, the Ministry of Finance, helmed by Dr Cassiel Ato Forson, stated that the payment is the sixth coupon settlement made under the DDEP.

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It also added that this is the second full cash payment made without any Payment-In-Kind component.

"This payment marks the sixth coupon settlement under the programme and represents the second full cash payment without any Payment-In-Kind component, reflecting strengthened fiscal capacity and solvency," the statement read.

"The settlement covers cedi-denominated DDEP coupon obligations in line with the restructuring memorandum and the Government’s broader debt management and fiscal consolidation strategy," it added.

The Ministry of Finance’s statement further explained that the payment covers cedi-denominated DDEP coupon obligations in accordance with the restructuring memorandum and the government’s broader debt management and fiscal consolidation strategy.

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It further stated that the timely settlement demonstrates improved fiscal strength and solvency in the country’s economy.

"The timely payment sends a strong positive signal to domestic and international investors, reinforces market confidence, and is expected to support Ghana’s credit outlook while enhancing stability within the financial sector, including banks and pension funds," the Finance Ministry stated."

"Government remains fully committed to meeting future DDEP obligations, supported by strong buffers, improving macroeconomic fundamentals, declining inflation, lower interest rates, and a stable Cedi," it added.

Read the Finance Ministry's statement below:

Details about Ghana's DDEP

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Ghana’s Domestic Debt Exchange Programme was launched in December 2022 by the former Finance Minister, Ken Ofori-Atta, under the erstwhile New Patriotic Party-led administration.

The programme was introduced as a critical component of the country’s economic reform strategy to restore debt sustainability and secure a $3 billion bailout from the International Monetary Fund (IMF).

Under the DDEP, eligible domestic bondholders were invited to swap their existing bonds for a set of new benchmark bonds with extended maturities and reduced coupon rates.

This led to what is known as “haircuts” (reductions) in the expected value of investments, with many investors, including pensioners, losing a significant portion of their savings.

Netizens react to DDEP interest payment

Following the Ministry’s statement, some Ghanaians on social media thronged the comments section to share their views on the DDEP interest settlement.

YEN.com.gh compiled a few of the comments below:

@Teye Ob Kingsley said:

"Well done! This is a government one can trust. In fact, NDC will stay in power for a very long time."

@Nuhu Williams also said:

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"I can now comfortably say, my taxes are being used diligently."

@Albert Dechem commented:

"I can confidently say this country is now governed by human beings, may God continue to bless them, Finance Minister, papapaaa."

Forson wins Africa’s top Finance Minister Award

Meanwhile, YEN.com.gh reported earlier that Dr Cassiel Ato Forson had been named Africa’s Most Outstanding Finance Minister for 2025.

The award was conferred at the Africa Development Council Leadership Ratings and Awards event.

He was recognised for prudent economic management, fiscal discipline, and financial reforms.

Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.

Source: YEN.com.gh