Finance Minister Dr. Cassiel Ato Forson has given firm assurances to the banking sector that the Mahama-led administration has put in place adequate financial safeguards to honor all obligations under the Domestic Debt Exchange Programme (DDEP) for 2025.
Speaking after a high-level meeting with over 22 Managing Directors of banks on March 20, Dr. Forson reiterated the government’s commitment to fiscal responsibility and restoring confidence in the financial sector.
“We do not intend to default,” he stated emphatically in a post on X (formerly Twitter) on Friday, March 21. “All outstanding holdouts have been settled, and we have created the necessary buffers to ensure that every single DDEP obligation for this year will be met.”
Beyond meeting debt commitments, the Finance Minister emphasized the administration’s strategy to ease the financial burden on the banking industry by reducing reliance on Treasury bills. He highlighted improved coordination between fiscal and monetary policies as a key approach to stabilizing interest rates and managing liquidity in the sector.
Dr. Forson assured banking executives that the government has taken valuable lessons from past financial turbulence, particularly the crisis of 2022, and is committed to avoiding policy missteps that could destabilize the economy.
“We have learned from the past. We will not be reckless. Our fiscal discipline will ensure we meet all obligations while working closely with you to build a stable and resilient economy,” he concluded.
The assurances from the Finance Minister come at a time when stakeholders in the financial sector are closely monitoring the government’s ability to fulfill its debt obligations while maintaining economic stability.
