Finance Minister Dr. Cassiel Ato Forson has assured Ghanaians that government remains fully committed to honouring all its domestic debt obligations under the Domestic Debt Exchange Programme (DDEP).

He was emphatic in vowing that “we will not default.”

Delivering the 2025 Mid-Year Budget Review on Wednesday, July 24, Dr. Ato Forson disclosed that in just the first half of the year, the government had already paid GH¢9.8 billion in coupon payments to DDEP bondholders, of which GH¢3.6 billion was capitalised as part of restructuring agreements.

Additionally, GH¢1.1 billion was disbursed to non-tendered bondholders—those who did not participate in the debt exchange—settling all outstanding debt service arrears from 2024.

“For the second half of 2025, an amount of GH¢10.2 billion is due as coupons on the DDEP bonds and GH¢724.1 million as debt service for the non-tendered bondholders,” Dr. Forson noted.

In what appeared to be a direct response to growing anxieties among investors and analysts, the Finance Minister said the Mahama administration was committed not only to fulfilling these obligations but also to restoring trust in Ghana’s fiscal credibility.

“It is important to note that government remains committed to honouring its debt service obligations and has therefore made adequate preparations towards full settlement of all debt service in 2025 and beyond,” Dr. Forson declared.

The government’s DDEP, launched in 2022 as part of its broader IMF-backed economic reform agenda, was a difficult but necessary step to restructure Ghana’s unsustainable debt burden.