DDEP payments result of NPP’s strategic planning, not Mahama’s directive – Amin Adam
The immediate past Finance Minister has dismissed claims that the decision to honour the fourth coupon payment to Domestic Debt Exchange Programme (DDEP) bondholders was solely at the directive of President John Mahama.
According to Dr Mohammed Amin Adam, the previous New Patriotic Party (NPP) government had already laid the groundwork to ensure a seamless continuation of these payments.
He stated that the NPP administration had committed significant resources to meet these obligations, stating that between August 2023 and December 2024, government paid a total of GH¢17.25 billion in PIC and GH¢9.77 billion in PIK to bondholders.
Below is the facebook Post
4th DDEP Coupon Payments
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).
Dr Amin Adam argued that these consistent payments prove that the NPP government laid a strong foundation for the continuity of the programme, making it inaccurate to attribute the fourth payment solely to President Mahama’s directive.
