The government is set to repay more than GH¢36 billion in debt ahead of schedule by the end of December 2026, as part of efforts to reduce the country’s debt burden, strengthen economic stability and restore investor confidence.
Finance Minister Dr Cassiel Ato Forson announced that the government intends to redeem GH¢29 billion, equivalent to US$2.48 billion, in bonds issued under the Domestic Debt Exchange Programme (DDEP), which were originally scheduled to mature in February 2027.
The repayment will also cover the January 2 Eurobond obligation, bringing the total debt to be settled ahead of schedule to more than GH¢36 billion.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, Dr Forson said the government was committed to meeting its financial obligations and ensuring that Ghana did not return to the difficulties that led to the debt restructuring.
“Together, that is about GH¢36 billion in debt to be cleared ahead of schedule. More than GH¢36 billion paid back early and more than GH¢36 billion less debt by December 2026,” he told Parliament.
He further assured international bondholders that the government would honour its Eurobond obligations in full and on time.
“To our Eurobond holders, hear me clearly. Every dollar owed to you, principal and coupon, will be paid in full and on time,” he stated.
Dr Forson acknowledged the difficulties Ghanaians endured during the Domestic Debt Exchange Programme, saying the experience had placed a responsibility on the government to manage public borrowing more carefully.
“The debt restructuring came at a painful cost to our people. We owe them the discipline to borrow responsibly and plan for repayment,” he said.
He also criticised the previous administration’s debt repayment arrangements, arguing that the decision to postpone significant DDEP obligations had created substantial repayment pressures for 2027 and 2028.
According to him, the structure posed a risk of another debt default, but the current government was putting measures in place to prevent such an occurrence.
“The good news for the people of Ghana is this: Ghana will not default again on the watch of President John Dramani Mahama,” he declared.
The Finance Minister said the government was building financial buffers and implementing borrowing reforms to ensure that the country could meet its obligations without exposing Ghanaians to another round of economic hardship.
He maintained that the early repayment formed part of the government’s broader commitment to protecting the sacrifices made by citizens during the economic recovery process and safeguarding Ghana’s restored credibility.
