The government plans to raise GH¢15.38 billion in net domestic financing in the final quarter of 2026, as part of its debt management strategy, which includes buying back bonds issued under the Domestic Debt Exchange Programme (DDEP) and maturing in 2027.
The financing target, contained in the government’s fourth-quarter issuance calendar, covers the period from October to December 2026 and reflects projected domestic debt maturities and the remaining net financing requirements under the 2026 Mid-Year Fiscal Policy Review Framework.
The planned buybacks form part of liability management operations intended to address upcoming debt obligations and have also contributed to the need for the full operationalisation of the government’s sinking fund.
However, the issuance calendar does not specify how much of the GH¢15.38 billion net financing target will be allocated to the planned bond repurchases.
To mobilise the funds, the government intends to issue Treasury bills with maturities of 91, 182 and 364 days through weekly primary auctions, alongside medium- to long-term securities.
The longer-dated securities are also expected to support the establishment of benchmark bonds across the yield curve, helping to strengthen the domestic government securities market.
The government says the GH¢15.38 billion figure represents its net domestic financing target, not the total value of securities it plans to issue during the quarter.
The issuance programme is designed to provide greater predictability for investors and enable market participants to make informed investment decisions based on the government’s borrowing plans.
In reaffirming its commitment to transparency and market development, the government said it would continue to work towards an efficient and credible domestic government securities market.
The fourth-quarter calendar is part of the government’s broader debt management approach, combining domestic borrowing with liability management operations as it prepares to meet its financing needs and manage bonds falling due in 2027.
