Former President John Dramani Mahama has disclosed that the government is expected to pay a staggering GHC 15 billion incurred under the Domestic Debt Exchange Program (DDEP).
According to him, the government is looking to utilize the Sinking Fund as a means to settle this substantial debt burden.
Speaking to Bloomberg on the sidelines of the Security Conference in Germany, Mahama reassured investors and the international community that Ghana remains committed to meeting its debt obligations.
He acknowledged the economic challenges facing the country but emphasized that strategic financial planning, including the effective use of the Sinking Fund, would help stabilize the economy and restore investor confidence.
Mahama’s remarks come at a time when Ghana is grappling with the impact of its debt restructuring program, which was introduced as part of measures to secure an International Monetary Fund (IMF) bailout. The program has affected bondholders, financial institutions, and pension funds, sparking debates about its long-term implications on economic recovery.
With Ghana’s debt sustainability under scrutiny, Mahama’s assurances signal the government’s determination to honor its financial commitments while working towards economic stability and growth.
However, questions remain about whether the current fiscal strategies will be enough to navigate the country out of its debt crisis.
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