DDEP: Ato Forson promises that the government will cover all repayments.

Dr. Cassiel Ato Forson, the Minister-Designate for Finance, has promised to address the detrimental effects of the Domestic Debt Exchange Programme (DDEP) on the Ghanaian populace and economy.

Ato Forson gave the public his word that his administration will take all necessary steps to address the issues brought about by the debt restructuring program at his vetting session before the Appointments Committee of Parliament on January 13, 2025.

Introduced in response to Ghana's growing debt crisis, the Domestic Debt Exchange Program has had a significant impact on the nation's financial industry as well as its populace.

Domestic bonds and loans were restructured as part of the program, which caused creditors to suffer large losses and created a convoluted repayment plan that has sparked worries about Ghana's long-term fiscal viability.

However, Ato Forson stated his dedication to finding a solution to these problems and making sure the nation continues on its course toward economic stability and financial recovery.

He also described Ghana's obligations under the debt restructuring process. He disclosed that GH¢12.6 billion will be owed by the nation in 2025 as part of its debt exchange obligations.

"We will take all necessary steps to repair the harm caused by the restructuring of the domestic debt. Due to the debt restructure, we would be required to pay back GH¢12.6 billion in 2025, GH¢15.7 billion in 2016, and GH¢53 billion in 2027.

Similar losses have been caused on the Eurobond side; we have billions of dollars to pay, of which $364 million has already been made, and more are on the horizon. We will have to pay $1 billion year starting in 2026.