The Ministry of Finance of Ghana has announced the expiration of restrictions on new domestic bond issuance, marking a significant shift in the country’s post-debt restructuring strategy.
In a press release dated March 2, 2026, the Ministry stated that the three-year restriction, imposed in 2023, has officially lapsed.
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The measure was introduced following Ghana’s debt default and the implementation of the Domestic Debt Exchange Programme (DDEP), which temporarily limited the government’s ability to issue new domestic bonds.
According to the Ministry, the expiration comes at a time of improved macroeconomic stability. It cited declining inflation, rising investor confidence and a stronger overall economic outlook, supported by a robust medium-term debt management strategy and strengthened fiscal buffers.
The statement noted that since 2025, government has consistently honoured all coupon payments and obligations under the restructured bonds. This, it said, demonstrates renewed credibility, fiscal discipline and a firm commitment to responsible debt management.
With the restrictions lifted, government is expected to reduce its heavy reliance on short-term Treasury bills to finance budgetary needs.
The move will allow for the issuance of longer-dated domestic bonds, which are generally considered more sustainable for managing public debt and improving cash flow stability.
The Ministry further indicated that the development signals confidence in Ghana’s ongoing economic recovery efforts and its capacity to manage debt prudently.
The administration of President John Dramani Mahama expressed gratitude to Ghanaians for their patience and cooperation throughout the difficult restructuring period, acknowledging the sacrifices made during the economic adjustment process.
The Ministry concluded that the new phase of bond issuance will be guided by transparency, market discipline and long-term fiscal sustainability objectives.
