Ghana : lifts restrictions on new domestic bond issuance after three years

The Ministry of Finance of Ghana officially announced the expiration of restrictions on new domestic bond issuance, a measure put in place in 2023 after the country’s debt default and as part of the Domestic Debt Exchange Programme (DDEP) to stabilise the domestic market.

Finance Minister Dr Cassiel Ato Forson said the move comes amid lower inflation, improved investor confidence and a stronger macroeconomic environment, supported by a robust medium-term debt management strategy and financial buffers.

Since 2025, the government has honoured all obligations and coupon payments on restructured bonds, demonstrating fiscal discipline and responsible debt management, according to the official release.
With the restrictions lifted, Accra plans to reduce reliance on short-term Treasury bills for budget financing and issue new longer-dated domestic bonds, improving the public debt maturity profile and deepening the domestic capital market.