End of an Era? Government Issues First Long-Term Bond Since DDEP as Economy Recovers

This marks a “rebirth” of Ghana’s financial credibility. After the 2022 default and the painful Domestic Debt Exchange Programme (DDEP), the government is finally strong enough to borrow long-term again.

For the past three years, the government was banned from issuing new long-term bonds. Today, Monday, March 30, 2026, is the official first day the “books open” for a new 7-year cedi-denominated bond. This is a test to see if investors (both in Ghana and abroad) finally trust the economy again.