The International Monetary Fund (IMF) has described the agreement reached between Ghana and the African Export-Import Bank (Afreximbank) as a major milestone toward the completion of the country’s ongoing debt restructuring programme.
Speaking at a press briefing on Thursday, the IMF’s Director of Communications, Ms. Julie Kozack, said the deal aligns with the parameters of Ghana’s IMF-supported programme and meets the debt sustainability and comparability requirements guiding the restructuring process.
She noted that investors and market participants have been closely monitoring the treatment of Afreximbank’s exposure, particularly whether it would be handled in line with arrangements agreed with other official creditors.
According to the IMF, the agreement reached in principle in December 2025 satisfies the “comparability of treatment” principle under the Official Creditor Committee framework and remains consistent with the objectives and quantitative limits of the IMF programme.
“We welcome the agreement in principle reached with Afreximbank in December 2025. It is in line with the comparability of treatment under the official creditor committee framework and consistent with the objectives of the IMF-supported programme. This represents a crucial step toward completing Ghana’s debt restructuring,” Ms. Kozack said.
The resolution of Ghana’s Afreximbank exposure, estimated at about US$750 million and contracted in 2022 removes a significant source of uncertainty that had weighed on programme credibility and complicated negotiations with other creditors.
The IMF said clearing this hurdle reduces execution risks in the restructuring process and strengthens Ghana’s prospects of completing the debt exercise, which is critical to restoring macroeconomic stability and eventually regaining access to international capital markets.
