GH¢61.7bn DDEP Cost Sparks Concern, But Experts Say Investment Still Key to Economic Recovery
The Domestic Debt Exchange Programme (DDEP), which has cost Ghana a staggering GH¢61.7 billion, continues to raise alarms across the financial sector. However, experts at the 2025 Money Summit held in Accra remain firm in their belief that investment remains a critical pillar for securing long-term economic stability and retirement security.
Despite the heavy toll the DDEP has exacted on pension funds, banks, and the Bank of Ghana, financial professionals at the summit called for decisive leadership and bold reforms to rebuild investor confidence.
“Yes, the DDEP has been painful, but we cannot afford to lose sight of the long-term importance of investment,” said Dr. Lydia Quartey, a senior economist at the Centre for Financial Policy Studies. “Now is the time for forward-thinking strategies, not fear-driven paralysis.”
Ghana’s economy has been battered by a series of major shocks in recent years. The 2018 financial sector clean-up cost the nation GH¢25 billion, while the COVID-19 pandemic added a GH¢21.8 billion burden. Yet, according to experts, the DDEP stands out as the most devastating blow to date, having eroded confidence in financial markets and destabilized retirement plans for many Ghanaians.
“It has affected every layer of the investment ecosystem — from institutional investors to everyday Ghanaians planning their pensions,” said Kofi Mensah, a financial advisor with Heritage Capital. “The solution isn’t to withdraw but to respond wisely and strategically.”
Adding to the economic turbulence are new international trade tensions, including a 10 percent import tax recently imposed by the United States. Analysts warn that the levy could drive up import costs and diminish the competitiveness of Ghanaian exports, further complicating the path to recovery.
“This new trade policy by the U.S. introduces another layer of uncertainty,” noted Angela Boateng, a trade policy expert. “It’s a wake-up call for Ghana to diversify and strengthen its domestic production capacity.”
Nonetheless, speakers at the summit remained optimistic about the country’s ability to bounce back, provided that government and private sector leaders take the necessary steps to restore confidence.
“We need to be disciplined in our fiscal management, maintain a tight grip on inflation, and vigilantly track our debt servicing obligations,” urged Bernard Adusei, Director of Investment Strategy at FutureFund. “These are the signals that tell investors we are serious about recovery.”
Themed Optimising Investment and Pensions Management: Strategies for Sustainable Retirement Income and Economic Growth, the 2025 Money Summit placed strong emphasis on the need for financial literacy and long-term planning. Experts argued that even in tough times, sound investment practices remain essential.
“Economic adversity is not new,” said Ama Serwaa, CEO of Legacy Financial. “But with education, strategy, and commitment, Ghanaians can still achieve financial security.” As the nation confronts its fiscal challenges, the message from the summit was resounding: investment should not be abandoned. Instead, it must be carefully managed, supported by effective policy, and embraced as a foundation for both individual prosperity and national growth.
