The Ministry of Finance has officially announced the expiration of restrictions on new domestic bond issuance that were imposed under Ghana’s Domestic Debt Exchange Programme (DDEP). The announcement was made by Finance Minister Dr. Cassiel Ato Forson, who confirmed that the three-year limitation placed on the issuance of longer-dated domestic bonds has now come to an end.
The restriction was introduced in 2023 at the height of Ghana’s debt crisis as part of measures to stabilize the economy and restructure domestic debt. Under the arrangement, government was barred from issuing new long-term domestic bonds, a move designed to support the success of the DDEP and restore macroeconomic balance. With the expiration of the restriction, government can now resume issuing longer-term domestic bonds, a development expected to reduce reliance on short-term Treasury bills and improve overall debt sustainability.
Dr. Forson explained that the decision reflects improved macroeconomic conditions, including easing inflationary pressures, strengthened investor confidence, and a more stable economic outlook supported by a credible medium-term debt management strategy. He further noted that since 2025, government has honoured all coupon payments and obligations on restructured bonds, demonstrating fiscal discipline and a commitment to rebuilding trust in the domestic bond market.
On behalf of the administration of John Dramani Mahama, the Finance Minister expressed appreciation to Ghanaians for their patience and cooperation throughout the challenging debt restructuring period. He described the expiration of the DDEP-induced restrictions as a major milestone in Ghana’s economic recovery efforts and a step toward restoring normalcy in the domestic capital market.