NPP CHALLENGES NDC OVER GH¢111 BILLION DDEP DEBT OBLIGATIONS
The New Patriotic Party (NPP) Oti Regional Secretary aspirant and former Nkwanta South Municipal Chief Executive, Felix Owusu-Gyimah, has challenged the NDC government to outline a clear strategy for managing Ghana’s upcoming GH¢111 billion Domestic Debt Exchange Programme (DDEP) obligations without undermining development spending.
Speaking in an interview with SK92 News, Mr. Owusu-Gyimah expressed concern over DDEP bonds expected to mature between 2027 and 2028, questioning whether the current administration has a credible and sustainable plan to meet the repayments while maintaining investment in critical sectors of the economy.
According to him, the issue should concern all Ghanaians because the significant debt obligations could place pressure on government finances and affect expenditure on infrastructure and other development projects.
Mr. Owusu-Gyimah defended the debt repayment record of the previous NPP administration, arguing that it honoured its obligations to bondholders despite the economic challenges that led to the implementation of the DDEP.
He said the previous government never defaulted on coupon payments and paid GH¢17.25 billion in cash and GH¢9.77 billion in kind to bondholders between August 2023 and December 2024. He added that Debt Reserve Accounts were also established to prepare for future repayments.
While acknowledging the hardship the DDEP imposed on investors and pensioners, Mr. Owusu-Gyimah said the NPP administration accepted responsibility for the programme and worked to fulfil its obligations.
He further called on the NDC government to demonstrate how it intends to manage the upcoming debt repayments without slowing development or placing additional pressure on the economy.
The NPP Oti Regional Secretary aspirant also advocated stronger domestic revenue mobilisation through technology, arguing that expanding Ghana’s tax base would generate additional revenue to meet debt obligations while sustaining national development.
