President Mahama Reassures Bondholders: “Every Pesewa Will Be Paid”
President John Dramani Mahama has assured bondholders that all outstanding coupon payments will be fully settled.
Speaking at the State of the Nation Address (SONA) in Parliament on Thursday, February 26, he reaffirmed the government’s commitment to restoring fiscal stability and ensuring debt sustainability through ongoing economic reforms.
Debt Repayment in Progress
The President noted that $6.081 billion in matured coupon payments had already been honored in cash, along with 3.46 billion in kind, covering all obligations under the Domestic Debt Exchange Programme.
He further assured investors that proactive debt management strategies were in place:
“As we have done in the past, we are building buffers in the sinking fund and implementing prudent debt management practices to ensure timely repayment of both domestic and external debts.”
He added that additional reserves had been secured to cover maturing bonds due in July and August, giving bondholders confidence in the government’s ability to meet its obligations.
IMF Review & Economic Outlook
President Mahama also provided updates on Ghana’s participation in the IMF-supported programme, stating that preparations for the fourth review—set for April 2 to 15, 2025—are well underway, with the IMF Executive Board expected to approve it by June.
He called on business owners and foreign investors to trust in the government’s efforts to revive the economy, emphasizing that Ghana is on track to regain economic stability.
Commitment to Fiscal Discipline
Highlighting the administration’s fiscal policies since taking office on January 7, 2025, he noted significant steps toward financial discipline, including:
✅ Reduced government spending by cutting unnecessary expenditures.
✅ Lower dependence on borrowing through strategic financial planning.
✅ Falling interest rates, with the 91-day treasury bill rate dropping from 28.51% (January 6, 2025) to 24.48%.
Appreciation for Labour Unions
The President also expressed gratitude to Organised Labour for accepting a 10% increase in base pay, assuring them that their current sacrifices would be recognized in the long run.
“We remain committed to creating an economy that works for all, and we appreciate the contributions of our hardworking citizens,” he added.
With these measures in place, Ghana is steadily moving towards economic recovery, investor confidence, and financial stability.
