On Thursday, Finance minister Dr Cassiel Ato Forson assured industry leaders in the banking sector that government has built sufficient financial buffers to meet all obligations under the Domestic Debt Exchange Programme (DDEP) this year.
At a high-level meeting with over 22 Managing Directors of banks, the minister reaffirmed government commitment to fiscal responsibility and restoring confidence in the financial sector.
“We do not intend to default,” I declared. “All outstanding holdouts have been paid, and we have put in place the necessary buffers to ensure that every single DDEP obligation for this year will be met.”, he stated
Beyond ensuring timely DDEP payments, the government is also taking deliberate steps to reduce reliance on the Treasury bill market. By improving coordination between fiscal and monetary policies, we aim to stabilize interest rates and ease liquidity pressures on the banking sector.
These actions are part of a broader strategy to ensure economic resilience and prevent a repeat of the financial instability of 2022.
I further assured the banking executives that “We have learned from the past. We are not going to be reckless,”.
“We have built the necessary buffers to meet our obligations, and we will work with you to ensure a stable and prosperous economy.”
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
