Ghana at Loggerheads With Afreximbank Over $768 Million Debt

Ghana, emerging from a bruising debt restructuring process, faces a dispute with African Export-Import Bank, one of its biggest commercial creditors, over whether it should take losses on a $768.4 million liability.

The finance ministry says the debt must be treated comparably to others it’s restructured, from bilateral loans with China to $13 billion in eurobonds. But Afreximbank — which was set up by African countries and private investors more than three decades ago — insists it has preferred creditor status, meaning member states can’t force it to take losses.