Ghana's government has offered to repay GHS 29 billion of Domestic Debt Exchange Programme (DDEP) bond principal due on 16 February 2027 early, with the offer effective from Thursday 12 November 2026, Finance Minister Dr Cassiel Ato Forson told Parliament while presenting the 2027 Budget, Citi Newsroom and 3News reported.
He said the Cedi Sinking Fund held GHS 29 billion as of 11 November.
"To every DDEP bondholder whose bond falls due in February 2027, hear me clearly: your cash is ready. Come for your money!" he said.
The government also intends to pay the US$590 million Eurobond due on 2 January 2027 by 31 December 2026. "Together, that is more than GH¢36 billion in debt to be cleared ahead of schedule," the Minister said.
What falls due in 2027
- February 2027 (DDEP): GHS 29 billion principal, covered by the sinking fund, plus GHS 11.1 billion of interest, for which the government says it is still building buffers in the Debt Service Reserve Account.
- August 2027 (DDEP): GHS 12.5 billion, made up of GHS 3.3 billion principal and GHS 9.2 billion interest.
- Total DDEP obligations in 2027: about GHS 53 billion, per the Minister. StatsGH check: 29 + 11.1 + 12.5 = GHS 52.6 billion, consistent with that figure.
- Eurobonds: US$590 million on 2 January 2027 and a further US$580 million on 2 July 2027. The US Dollar Sinking Fund held US$480 million on 11 November and is expected to reach about US$600 million by December.
Dr Forson said the government had paid GHS 41.36 billion to DDEP bondholders and US$2.1 billion to Eurobond holders since 2025 (Citi Newsroom).
Debt stock
Provisional public debt stood at GHS 759.3 billion at the end of October 2026, or 47.5% of GDP, the Minister said, according to Citi Newsroom. Domestic debt makes up 56.4% of the total and external debt 43.6%.
On those shares, StatsGH calculates domestic debt at about GHS 428.2 billion and external debt at about GHS 331.1 billion. "Our strategy is to reduce our external debt exposure, so that movements in the exchange rate do less damage to our total debt," he said.
The 2027 Budget sets interest payments at GHS 61 billion, GHS 51.5 billion on domestic debt and GHS 9.5 billion on external debt, according to 3News' summary of the budget figures. The government's medium-term anchor is public debt of 45% of GDP.
Caveats
The debt figures are provisional, and the early payments depend on bondholders taking up the redemption offer and on the dollar sinking fund reaching its target. The full 2027 Budget Statement had not been posted on the Ministry of Finance website when StatsGH checked at 22:00 Europe/London; figures here come from the speech as reported by the outlets named.