ACCRA: Ghana is reopening a debt exchange that was originally settled in February for another 12.9 billion cedis ($1.1 billion) of local bonds, the finance ministry said on Thursday.

The terms of the new invitation are identical to those of the February 2023 exchange, which closed with an 85% participation rate, the ministry said in statement.

The exchanges are part of efforts by Ghana to restructure both domestic and external debt - a condition set by the International Monetary Fund (IMF) for a $3 billion bailout secured in May.