Govt’t Lifts Restrictions on Domestic Bond Issuance Following DDEP

Accra: The Ministry of Finance has announced the expiration of restrictions on new domestic bond issuance. This marks the end of a three-year period during which the government was barred from issuing new bonds. The restriction was initially put in place in 2023 as a measure to prevent the government from issuing new bonds in the wake of a debt default that led to the Domestic Debt Exchange Programme (DDEP). According to Ghana News Agency, the expiration of these restrictions allows the government to reduce its reliance on Treasury Bills for financing its budget. This development enables the issuance of new longer-dated domestic bonds. The Ministry of Finance's statement highlighted that this change comes at a time when inflation is low, investor confidence has improved, and the macroeconomic environment is strong. The statement also emphasized the government's commitment to a robust medium-term debt management strategy and the existence of significant financial buffers. Since 2025, the government has consi stently met every coupon payment and obligation under the restructured bonds. This has been seen as a demonstration of the government's credibility, fiscal discipline, and dedication to responsible debt management. President John Dramani Mahama's administration expressed gratitude to the Ghanaian people for their patience and cooperation during the challenging period.