We’ll honour all DDEP obligations – Ato Forson reassures bankers

Finance Minister Dr. Cassiel Ato Forson has assured the banking industry that the Mahama-led government has put in place sufficient financial safeguards to meet all commitments under the Domestic Debt Exchange Programme (DDEP) for this year.

Dr. Forson reaffirmed the administration’s dedication to fiscal prudence and the restoration of trust in the financial sector.

In a statement on X (formerly Twitter) on Friday, March 21, 2025, he disclosed that he had met with over 22 bank Managing Directors in a high-level discussion to reinforce the government’s commitment to fulfilling all DDEP obligations.

“We do not intend to default,” he declared during the meeting on March 20. “All outstanding holdouts have been paid, and we have put in place the necessary buffers to ensure that every single DDEP obligation for this year will be met,” he stated.

The Finance Minister also highlighted the government’s efforts to reduce reliance on Treasury bills by strengthening coordination between fiscal and monetary policies.

This approach, he explained, is designed to stabilize interest rates and ease liquidity pressures in the banking sector.

Dr. Forson assured banking executives that the government has taken valuable lessons from past financial challenges and remains committed to sound fiscal management.

“These actions are part of a broader strategy to ensure economic resilience and prevent a repeat of the financial instability of 2022.

“We have learned from the past. We are not going to be reckless. We have built the necessary buffers to meet our obligations, and we will work with you to ensure a stable and prosperous economy,” he concluded.