Cassiel Ato Forson has announced in what he describes as “a major step forward” in Ghana’s economic recovery the expiration of the Domestic Debt Exchange Programme (DDEP) – induced restrictions on new domestic bond issuance.
In a Facebook to post, the Finance Minister explained that the three-year restriction, imposed in 2023 after the debt default that led to the DDEP, was a necessary measure to stabilise the economy and restore order to the domestic debt market.
“Today, we are pleased to announce that those restrictions have officially expired.”
Dr Forson noted that the decision comes at a time when inflation has significantly declined, investor confidence has rebounded, and Ghana’s macroeconomic environment has strengthened. According to him, the recovery has been supported by a robust medium-term debt management strategy and the rebuilding of financial buffers.
He also highlighted government’s track record since 2025, stressing that every coupon payment and obligation under the restructured bonds has been honoured.
“This demonstrates our credibility, fiscal discipline, and unwavering commitment to responsible debt management,” he stated.
The Minister explained that with the restrictions lifted, government will now be able to reduce its heavy reliance on short-term Treasury bills to finance the budget. The move opens the door for the issuance of new, longer-dated domestic bonds — a development expected to deepen the domestic capital market and improve debt sustainability.
Dr Forson ended his message by conveying the appreciation of John Dramani Mahama and his administration to Ghanaians for their patience and cooperation during what he described as a difficult but necessary period of economic adjustment.
“We are grateful to the Ghanaian people for your forbearance,” he wrote, adding that the government remains committed to safeguarding the stability achieved and building a stronger, more resilient economy.
