Ghana transfers GH₵10.8bn in cash to DDEP bondholders

The Ghanaian government has made significant progress in its Domestic Debt Exchange Programme (DDEP), transferring GH₵10,816,840,318.26 to bondholders on 19 August 2026. This payment was made entirely in cash and on schedule, marking the third consecutive coupon paid in cash rather than through bond swaps.

Total DDEP payments since 2025 have reached approximately GH₵41.36 billion. This shift toward cash disbursements is viewed as a meaningful signal to bondholders, which include local banks, pension funds, insurers, and individual savers.

Unlike previous debt crises in Ghana that primarily involved external creditors and foreign-currency obligations, the current crisis is distinct because it directly impacts the domestic financial system. The restructuring involves obligations owed to the country's own citizens and institutions, affecting retirement savings and local investment securities.