After months of financial distress caused by the Domestic Debt Exchange Programme (DDEP), bondholders are beginning to regain some stability as the government has resumes payments.
Speaking on ABC News Gh on Tuesday, February 18, Yaw Owusu Brefo, Convenor of the Individual Bondholders Forum, noted that while the situation remains far from ideal, it is at least a step toward normalcy.
“I know a lot of my colleagues are happy that they are getting their coupons and can plan their lives back,” he stated.
Brefo painted a grim picture of the impact the DDEP had on individual investors, many of whom had to make drastic financial decisions just to stay afloat.
“The DDEP threw a lot of us out of life comfort,” he revealed.
“Others sold properties, others borrowed a lot of money just because what they had put in bonds to secure those income flows became impaired.”
Now, with payments gradually resuming, some relief is setting in, but for many, the damage is already done.
Despite the payments, skepticism lingers over whether the government can sustain its commitment. “It’s not the best of the situation, but at least it is better than nothing,” Brefo admitted.
He urged the government to remain consistent with the payments, stressing that only a sustained effort would restore confidence in the financial sector.
Many investors, he warned, remain cautious, and without a clear long-term strategy, the scars left by the DDEP crisis will not heal easily.
