The Ministry of Finance has announced the expiration of restrictions on new domestic bond issuance that have been in place since 2023. The restrictions, which lasted for three years, were initially introduced to prevent the government from issuing new bonds following the debt default that triggered the Domestic Debt Exchange Programme (DDEP).
The decision to lift these measures comes at a time of encouraging macroeconomic indicators. Inflation remains low, investor confidence has strengthened, and the overall economic environment is robust. These positive developments are further supported by a sound medium-term debt management strategy and substantial fiscal buffers.
Since 2025, the government has honored all coupon payments and obligations under the restructured bonds, showcasing its renewed credibility and commitment to responsible debt management. This period of fiscal discipline has helped restore investor trust and stabilize the financial sector.
The expiration of the bond issuance restrictions is expected to significantly reduce Ghanaโs reliance on Treasury bills as a primary financing tool. It opens the door for the government to issue longer-dated bonds, which can support sustainable fiscal policies and foster economic growth.
President John Dramani Mahamaโs administration expressed gratitude to the Ghanaian people for their patience and cooperation during this challenging period. The move marks a step forward in Ghanaโs journey towards fiscal consolidation and economic resilience.
