Ghana, Afreximbank settle $750m loan dispute.

The Government of Ghana, acting through the Ministry of Finance, and the African Export‑Import Bank (Afreximbank) have announced a successful resolution of all outstanding issues surrounding a US$750 million financing facility signed in 2022, ending months of uncertainty and clearing the way for continued cooperation on development initiatives.

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In a joint statement released on Thursday, 25 December 2025, officials from both sides confirmed that the matter has been resolved to the satisfaction of both parties, allowing the partnership to progress without impediment.

The resolution follows weeks of negotiation and public scrutiny over how the facility should be treated within Ghana’s broader debt restructuring programme.

the statement said.

The $750 million facility was originally signed in July 2022 and later disbursed in three tranches to assist Ghana during a period of severe external liquidity constraints and credit rating downgrades, which had cut the country off from international capital markets.

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The funds supported balance of payments needs, trade financing, budget support and key infrastructure spending, according to historical financing details. However, as Ghana grappled with a crippling debt burden that included approximately $13 billion in eurobonds and bilateral loans, authorities sought to integrate the Afreximbank facility into its commercial debt restructuring programme, a move that generated disagreement over how the loan should be treated vis‑à‑vis other creditors.

Afreximbank maintained that its status, as established under its founding treaty, should be regarded as that of a multilateral institution rather than a purely commercial lender, and that its loans should have similar treatment to other preferred creditor obligations.

That dispute drew the attention of global rating agencies, which had flagged Ghana’s debt challenges and Afreximbank’s exposure as factors in credit assessments. The disagreement over classification and treatment of the loan affected perceptions of Ghana’s credit profile and Afreximbank’s own non‑performing loan metrics during parts of 2024 and 2025.

The successful resolution announced on Christmas Day follows months of dialogue between the Ministry of Finance and Afreximbank, allowing both sides to affirm their strategic partnership and look forward to future collaboration in support of Ghana’s economic development objectives.

Officials from both institutions emphasised that the agreement reflects mutual trust and a shared commitment to long‑term cooperation.Economists and financial analysts have welcomed the outcome, noting that settling this matter reduces uncertainty in Ghana’s debt profile and bolsters confidence among bilateral and multilateral partners.

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The development supports ongoing efforts to stabilise the economy and restore investor confidence following Ghana’s extensive debt restructuring under the International Monetary Fund (IMF) programme.

With the dispute now resolved, Ghana and Afreximbank are positioned to deepen their engagement on future financing that could support infrastructure, trade and other priority sectors aligned with the country’s long‑term development agenda.