Ghana says it has launched debt swap for pension funds

(Adds detail and context in paragraphs 2-3) ACCRA, July 31 (Reuters) -

Ghana's government on Monday invited pension funds holding around 31 billion Ghanaian cedis ($2.8 billion) of domestic bonds to swap their holdings for new bonds. Ghana is restructuring its debt as a condition for receiving an International Monetary Fund support programme.

Earlier on Monday the finance minister said

the government had roughly halved this year's economic growth forecast and saw higher inflation and a primary deficit whereas it was hoping for a surplus previously.