Government to save GH¢1 billion by paying DDEP bondholders early

The government expects to save about GH¢1 billion in interest payments by repaying GH¢29 billion owed to bondholders under the Domestic Debt Exchange Programme (DDEP) ahead of schedule.

Finance Minister Dr Cassiel Ato Forson said the move forms part of efforts to reduce Ghana’s debt burden and prevent another debt crisis as the country prepares for major repayments in 2027 and 2028.

Speaking on Citi FM on Friday, November 13 2026, Dr Forson explained that paying the principal early would help the government reduce its interest costs and ease pressure on public finances.

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“No, I’m not paying the interest earlier. But if I pay you the GH¢29 billion, then I will save about GH¢1 billion in interest,” he explained.

The Finance Minister announced the early repayment offer during the presentation of the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026.

The offer allows holders of DDEP bonds due on February 16, 2027, to receive their principal before the scheduled repayment date.

Dr Forson explained that Ghana faces about GH¢111 billion in debt obligations, with significant repayments falling due in 2027 and 2028.

“If you look at our debt profile, you see that the two are like mountains there, and everything else is stable. So, in a normal year, you pay about GH¢5 billion, GH¢5 billion, and then in one year, GH¢40 billion. So, what do you do to meet that GH¢40 billion? You need to plan,” he said.

The government has already set aside GH¢29 billion in the Cedi Sinking Fund to cover the February 2027 principal repayment. It is also raising additional funds to settle the GH¢11.1 billion interest payment due on the same date.

In total, the government is expected to pay about GH¢53 billion in principal and interest to DDEP bondholders in February and August 2027.

Meanwhile, the government plans to repay a US$590 million Eurobond obligation due on January 2, 2027, before the end of this year.

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The Finance Minister said paying debts early and improving how the government borrows will help Ghana avoid another financial crisis.

DR/MA

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