DDEP: Mahama is honouring 4th coupon payments, meaning NPP honoured 3 previous payments – Amin Adam

Former Finance Minister Dr Mohammed Amin Adam has said that the previous Akufo-Addo administration honoured three previous coupon payments to Domestic Debt Exchange Programme (DDEP) bondholders.

He states that the NPP government paid a total of GHS17.25 billion in Payment-In-Cash (PIC) and GHS9.77 billion in Payment-In-Kind (PIK) to bondholders.

Also, he said, individuals who did not tender their bonds were paid coupons amounting to GHS515.17 million at various times between 2023 and 2024, in line with the MoU signed between the Government and the Coalition of Individual Bondholders.

The Karaga lawmaker stressed that since the restructuring of the Domestic Debts, the previous NPP government has not defaulted on coupons. Buffers were also built in the Debt Reserves Accounts to support upcoming debt service obligations such as the 4th coupon payments.

Dr Amin Adam’s comments come at a time when the Mahama government announced the successful settlement of the 4th DDEP coupon.

A statement released by Felix Kwakye Ofosu, Minister for Government Communications and Spokesperson to the President on Monday, February 17, 2025, said that the payment demonstrated the government’s commitment to meeting financial obligations and restoring confidence in the economy.

The statement stressed that the Ministry of Finance, following a directive from President John Dramani Mahama, has honoured the Payment-In-Cash (PIC) coupon of GHS6.081 billion to all DDEP bondholders.

In a statement, Dr Amin Asam said “The NDC Government has announced that the President has directed the Minister for Finance to honour coupon payments to DDEP bondholders. As reported in the announcement, this will be the 4th coupon payment which is due on Tuesday 18th February, 2025. This means the previous NPP Government honoured 3 previous payments both in Payment-In-Cash (PIC) and Payment-In-Kind (PIK) between August 2023 and December 2024.

“The NPP government paid a total of GHS17.25 billion in PIC and GHS9.77 billion in PIK to bondholders. Also, individuals who did not tender their bonds were paid coupons amounting to GHS515.17 million at various times between 2023 and 2024, in line with the MoU signed between the Government and the Coalition of Individual Bondholders. Since the restructuring of the Domestic Debts, the previous NPP government has not defaulted in coupons. Buffers were also built in the Debt Reserves Accounts to support upcoming debt service obligations such as the 4th coupon payments.

The Breakdown of the payments as follows:

1st Payments: August 2023 Total payment – GHS8.55 billion

(PIC – GHS5.42 billion & PIK deposit – GHS3.13 billion)

2nd Payments: February 2024 Total payment – GHS9.11 billion (PIC – GHS5.85 billion &

PIK deposit – GHS3.27 billion)

3rd Payments: August 2024 Total Payment – GHS9.35 billion

(PIC – GHS5.98 billion & PIK deposit – GHS3.38 billion).

The post DDEP: Mahama is honouring 4th coupon payments, meaning NPP honoured 3 previous payments – Amin Adam first appeared on 3News.

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