Ghana has received official creditor support for its debt agreement with the African Export-Import Bank (Afreximbank), marking a key milestone in the country’s ongoing debt restructuring efforts, a source familiar with the matter said, as reported by Reuters. The backing signals alignment between Afreximbank and Ghana’s other official creditors on the terms of the deal.
According to The Ghana Report, members of the Paris Club of official creditors welcomed the agreement after determining that it complies with the principle of comparability of treatment, which requires all official creditors to accept broadly similar restructuring terms. This endorsement clears a major hurdle for Ghana as it works to finalise its external debt overhaul following its 2022 default.
The agreement with Afreximbank had been closely watched, as it was one of the remaining unresolved components of Ghana’s restructuring process. Securing creditor backing is expected to support continued implementation of Ghana’s IMF-backed economic reform programme and improve the country’s prospects for restoring debt sustainability.
Analysts say the development strengthens investor confidence and brings Ghana closer to completing a comprehensive restructuring, which is seen as critical for stabilizing public finances and re-opening access to international capital markets, as noted in market commentary cited by MarketScreener.
