Communications Director for the New Patriotic Party (NPP), Richard Ahigbah has indicated that the debt buffer John Dramani Mahama has directed the Finance Minister to build already exists.
According to him, the previous government created a debt service reserve account which handled buffers from T-bill auction surpluses, budgetary allocations for debt service, and transfers from the sinking fund to pay debt obligations.
He explained that the debt service reserve account is the one in which three coupons were paid under the previous government.
Therefore, the directive by the president to build a debt buffer is nothing new as one exists in the country already.
His position, expressed through a social media post, reads: “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.
The debt service reserve account holds the funds with which the three DDEP Coupons amounting to about GHs 27 billion were paid under President Akufo-Addo and the GHs 6.1 billion February coupon, which President Mahama has authorized to be paid.
In other words, the debt buffer that President Mahama is directing Dr Ato Forson to build is already in place and working”.
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