The New Patriotic Party (NPP) Minority Caucus in Parliament, has clarified the alleged misconceptions surrounding the payment of coupons to bondholders, emphasising that the previous NPP administration made timely payments.
Dr Stephen Amoah, NPP Member of Parliament for Nhyiaeso, speaking at a press conference on behalf of Dr Mohammed Amin Adam, a former Finance Minister, said: “…We started paying them from 2023, and never ever since then defaulted on coupons. We want to make this clear to our stakeholders and the public.
“… The previous NPP administration paid a total of GH¢17.25 billion in cash and GH¢9.77 million in kind to bondholders between August 2023 and December 2024,” Dr Amoah told the press in Parliament House on Tuesday.
Additionally, individuals who did not tender their bonds received coupon payments amounting to GH¢551.17 million, he noted.
“There is this misconception that the bondholders were not paid, and the previous government was not performing its obligation. That’s not true,” he said.
The Minority urged the public to disregard any misinformation, emphasising that they had made funds available for the upcoming fourth coupon payment.
“We hope you put this across and make this clear to the public,” he concluded.
Following a directive from President John Dramani Mahama, the Ministry of Finance has honoured the Payment-In-Cash (PIC) coupon of GH¢6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
The government had also honoured the Payment-In-Kind (PIK) portion of GH¢3.46 billion, deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum.
Additionally, the government had also paid into the Debt Service Recovery Cedi Account (Sinking Fund) an amount of GH¢9.7 billion as a buffer for the fifth DDEP coupon that will fall due in July and August 2025.
Mr Felix Kwakye Ofosu, Spokesperson to the President and Minister, Government Communications, made this known in a statement signed and issued on Monday February 17, 2025.
It noted that President Mahama was committed to the government’s honouring of all obligations under the DDEP.
“Through the 2025 budget Statement, the Government will announce further measures that will help to restore market confidence in the economy, prioritise spending and improve transparency and accountability in public finances.
“Ultimately, the Government seeks to restore fiscal prudence while ensuring value for every pesewa spent. Despite the challenging economy that was bequeathed by the previous administration, the Government is determined to bring back a stable Cedi, control spiraling inflation and create jobs for the teeming youth of our country,” it added.
Source: GNA
