Ghana’s Ministry of Finance and the African Export-Import Bank (Afreximbank) have announced the successful resolution of issues surrounding a US$750 million financing facility signed in 2022, bringing to a close a dispute that had drawn attention amid the country’s ongoing debt restructuring.
In a joint statement issued on December 25, the government of Ghana said the resolution was reached to the satisfaction of both parties and would allow Ghana and Afreximbank to continue working together in support of the country’s development agenda.
“The Government of the Republic of Ghana, acting through the Ministry of Finance, and the African Export-Import Bank are pleased to announce the successful resolution of the issues surrounding the US$750 million facility,” the statement said.
The facility, agreed in 2022, had become a point of contention during Ghana’s debt restructuring process, particularly over its treatment under the country’s broader external debt framework following the 2022 debt default. At the height of negotiations with creditors and the International Monetary Fund, questions were raised about whether the Afreximbank exposure should be classified as commercial or multilateral debt.
The resolution signals a de-escalation of those concerns and reinforces Afreximbank’s continued role as a key financial partner for Ghana at a time when the country is rebuilding confidence after a prolonged fiscal crisis. Ghana is currently implementing reforms under an IMF-supported programme aimed at restoring macroeconomic stability, improving debt sustainability, and unlocking fresh financing.
While the Ministry of Finance and Afreximbank did not disclose specific details of the settlement, officials said the agreement reflects a shared commitment to cooperation and pragmatic solutions that safeguard both Ghana’s economic recovery and the bank’s institutional interests.
Afreximbank has been one of Ghana’s most important development financiers, supporting trade, balance-of-payments needs, and strategic sectors including energy, infrastructure, and industrialisation. The resolution of the US$750 million facility is expected to strengthen that partnership and reassure other creditors and investors about Ghana’s approach to managing complex financing arrangements.
Analysts say the announcement is also significant for Ghana’s broader engagement with multilateral and regional lenders, as the country seeks to normalise relations with creditors and gradually return to international capital markets.
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The Ministry of Finance said the outcome underscores Ghana’s intention to remain a reliable partner while advancing policies that support sustainable growth, fiscal discipline, and long-term development.
