Ghana has started settling payments on outstanding domestic bonds

Ghana started processes to settle payments on outstanding domestic bonds on March 13 and holders of those bonds should receive their payments within the next 24 hours, the finance ministry said on Tuesday.

The initial instruction covers coupon and principal payments on bonds that matured on Feb. 6 and Feb. 13, 2023. Ghana has to restructure its debt to

secure a $3 billion International Monetary Fund bailout.

The government successfully closed

a long-delayed domestic debt exchange programme last month and is also working out a way to restructure its external debt.