Finance Minister Dr. Cassiel Ato Forson has announced that the government is prepared to redeem GH¢29 billion in bonds related to the Domestic Debt Exchange Programme (DDEP) before their maturity date in February 2027. The early redemption offer will take effect on Thursday, November 12, 2026. Dr. Forson urged holders of the affected bonds to accept the offer and collect their payments. While presenting the 2027 Budget Statement and Economic Policy to Parliament, he assured bondholders that the government has made funds available to meet its debt obligations.
“To holders of the February 2027 DDEP bonds, this early redemption offer is there for you, and I invite you to take it,” he said. He added: “I repeat, to every DDEP bondholder whose bond falls due in February 2027, hear me clearly: your cash is ready. Come for your money!” Dr Forson also assured holders of other DDEP bonds that all outstanding principal and interest would be paid in full and on time.
The government is also preparing to meet its Eurobond obligations falling due in January and July 2027. Dr Forson disclosed that about US$480 million had been accumulated in the US Dollar Sinking Fund Account as of November 11, 2026, with the balance expected to rise to approximately US$600 million by December. He said the government intended to settle the January 2, 2027 Eurobond obligation and the February 2027 domestic bond by December 31, 2026.
“Together, that is more than GH¢36 billion in debt to be cleared ahead of schedule,” he said. The Finance Minister further assured Eurobond holders that all amounts owed to them, including principal and coupon payments, would be paid in full and on time.
Dr Forson explained that the government’s strategy was aimed at preventing a repeat of Ghana’s debt crisis. He argued that the previous administration had deferred payments under the Domestic Debt Exchange Programme (DDEP), resulting in significant repayment obligations falling due in 2027 and 2028. “In our assessment, that repayment structure set Ghana up for another debt default,” he said.
He, however, assured the public that Ghana would not experience another debt default under President John Dramani Mahama’s administration. “But the good news for the people of Ghana is this: Ghana will not default again, on the watch of President John Dramani Mahama,” he stated.
According to Dr Forson, the government is taking steps to strengthen the country’s financial position by building adequate financial buffers and implementing reforms in financing and borrowing. These measures, he said, are intended to encourage prudent borrowing practices and ensure that debt obligations are settled on time. He further recognised the sacrifices Ghanaians endured during the debt restructuring exercise, stressing that the government had a duty to preserve those gains, fulfil its financial commitments and protect Ghana’s restored credibility.
