Ghana faces GH¢111b DDEP repayments in 2027-2028
Ghana faces GH¢111 billion in Domestic Debt Exchange Programme (DDEP) bond repayments due in 2027 and 2028, the government has announced.
The repayments comprise GH¢58 billion maturing in 2027 and GH¢53 billion in 2028, with the Government saying measures are in place to meet the obligations.
Presenting the 2026 Mid-Year Fiscal Policy Review to Parliament on Thursday, Dr Cassiel Ato Forson, Minister of Finance, said the Government had strengthened the Sinking Fund to prepare for the repayments.
He said the DDEP, introduced in 2023 as part of Ghana’s debt restructuring programme, had reduced immediate financing pressures but did not eliminate the debt burden.
“The DDEP was not designed to solve Ghana’s debt problem. It was designed to postpone it,” he said.
Dr Ato Forson said, under the 2026-2029 Medium-Term Debt Strategy, seven per cent of non-oil tax revenues, together with proceeds from domestic bond issuances, were being paid into the Sinking Fund.
He said the fund had accumulated GH¢15.6 billion as of July 22, 2026, and was projected to reach GH¢30 billion by the end of the year.
The Minister said the projected balance would be sufficient to meet a major DDEP bond obligation due in February 2027.
“Meeting obligations of this magnitude requires advance planning, not last-minute scrambling,” he said.
The Sinking Fund, he said, would help reassure investors, credit rating agencies and the public of Ghana’s commitment to honouring its debt obligations as they fell due.
Dr Ato Forson said the Government had continued to meet its debt servicing commitments, paying GH¢10.1 billion in DDEP coupon payments in February 2026, with a further GH¢10.8 billion scheduled for payment in August.
He said Ghana had also paid a total of $2.1 billion in principal and interest to Eurobond holders since January 2025.
The Minister said prudent fiscal management and timely debt servicing had contributed to improvements in Ghana’s debt outlook and investor confidence.
He expressed confidence that the continued build-up of the Sinking Fund and sustained fiscal discipline would enable the government to meet its debt obligations in 2027 and 2028 without undue pressure on the economy.
Source: GNA