The Finance Minister, Dr. Cassiel Ato Forson, has calmed the nerves of bankers, assuring them that the government will meet all its commitments under the Domestic Debt Exchange Programme (DDEP) this year. He reaffirmed the administration’s commitment to fiscal prudence and restoring trust in the financial sector.
In a meeting with over 22 bank Managing Directors, Dr. Forson stated that the government has put in place sufficient financial safeguards to honour its DDEP obligations. “We do not intend to default,” he stated, adding that all outstanding holdouts have been paid and necessary buffers are in place to meet every single DDEP obligation for this year.
The Finance Minister also outlined the government’s efforts to reduce reliance on Treasury bills by strengthening coordination between fiscal and monetary policies. This approach aims to stabilize interest rates and ease liquidity pressures in the banking sector.
Dr. Forson assured banking executives that the government has learned valuable lessons from past financial challenges and remains committed to sound fiscal management. “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.
