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Communications Director of the New Patriotic Party (NPP), Richard Ahiagbah, has asserted that the debt buffer President John Dramani Mahama has directed the Finance Minister to establish already exists.
Ahiagbah clarified that under the Akufo-Addo-Bawumia administration, a debt service reserve account was created to manage buffers sourced from T-bill auction surpluses, budgetary allocations for debt service, and transfers from the sinking fund to settle debt obligations.
According to Ahiagbah, the debt service reserve account was the same mechanism through which three Domestic Debt Exchange Programme (DDEP) coupon payments, totaling approximately GHS 27 billion, were disbursed under former President Akufo-Addo. He further noted that President Mahama authorised the recent GHS 6.1 billion February coupon payment, which was also sourced from this account.
“The Akufo-Addo-Bawumia government created the debt service reserve account, which handles buffers from T-bill auction surpluses, budgetary allocations for debt service, and transfers from the sinking fund to pay debt obligations,” Ahiagbah stated in a social media post.
Ahiagbah contended that President Mahama’s directive to Finance Minister Dr. Cassiel Ato Forson to establish a debt buffer was redundant, as the existing debt service reserve account already serves that purpose.
“In other words, the debt buffer that President Mahama is directing Dr. Ato Forson to build is already in place and working,” he added.
Source:NKONKONSA.com
