The International Monetary Fund (IMF) says the agreement reached between Ghana and the African Export-Import Bank (Afreximbank) is consistent with the parameters of Ghana’s IMF-supported programme and satisfies the debt sustainability and comparability requirements underpinning the ongoing restructuring process.
Speaking at a press briefing, IMF Director of Communications Julie Kozack said the deal represents an important step toward completing Ghana’s broader debt restructuring which is being closely monitored by investors assessing the country’s medium-term fiscal and financing outlook.
Attention has centred on whether Afreximbank’s treatment aligns with that of other official creditors, particularly in relation to potential maturity extensions but the IMF maintains, the agreement reached in principle in December 2025 complies with the comparability of treatment principle under the Official Creditor Committee framework and remains within 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 it is consistent with the objectives and parameters of the IMF-supported program. So, this marks a crucial step toward completing Ghana’s debt restructuring”, she said.
The resolution of the Afreximbank exposure estimated at about US$750 million and contracted in 2022 removes a major source of uncertainty that had weighed on programme credibility and complicated negotiations with other creditors.
But this cleared hurdle now reduces restructuring execution risk and strengthens Ghana’s case for completing the debt exercise which is a necessary condition for restoring macroeconomic stability and, eventually, regaining access to international capital markets.
