While some African countries have chipped away at their debts others have piled onto them, as they’ve reached out to financiers like the International Monetary Fund (IMF) for financial aid.
- Business Insider Africa presents the top 10 African countries with the highest debt to the IMF in February 2025.
- This list is courtesy of data from the International Monetary Fund.
- Egypt ranks number 1 on the list.
Excessive debt accumulation, especially from organizations such as the International Monetary Fund (IMF) could jeopardize a nation’s economic stability.
IMF loans can offer vital financial assistance in times of economic crisis, but an excessive dependency on them can have detrimental long-term effects, such as reduced policy flexibility, budgetary restrictions, and economic instability.
National budgets are the largest risks, given that they would immediately be under tremendous strain should debt loads get out of hand.
As a result, a significant amount of a country’s revenue is usually redirected to debt payments, leaving less money for infrastructure, healthcare, and education.
Furthermore, stringent policy requirements associated with significant IMF debt might restrict a nation’s ability to make economic decisions.
DON’T MISS THIS: Top 10 African countries with the highest debt to the IMF at the start of 2025
Usually, the IMF forces debtor countries to enact structural changes, privatization orders, and austerity measures that might not be in line with their long-term development objectives.
Ultimately, lowering IMF debt is critical for preserving financial sovereignty and ensuring that national resources are directed toward economic progress, public welfare, and long-term prosperity rather than endless debt repayments.
With that said, here are the African countries with the highest debt to the IMF as of February, 21, 2025.
Most of the list remained unchanged since last month, barring the fact that South Africa has significantly chipped at its debt, going from 1,144,200,000 at the 8th spot on the list last month to 762,800,000 currently, completely out of the list this month.
In its place, Tanzania has taken the 10th spot.
Top 10 African countries with the highest debt to the IMF in February 2025
| Rank | Country | Total IMF Credit Outstanding as of 02/21/2025 ($) |
|---|---|---|
| 1. | Egypt | 8,173,127,517 |
| 2. | Kenya | 3,022,009,900 |
| 3. | Angola | 2,900,483,33 |
| 4. | Cote d’Ivoire | 2,682,628,440 |
| 5. | Ghana | 2,506,118,500 |
| 6. | Democratic Republic of Congo | 1,789,100,000 |
| 7. | Ethiopia | 1,460,452,500 |
| 8. | Cameroon | 1,092,960,000 |
| 9. | Senegal | 1,067,841,250 |
| 10. | Tanzania | 1,009,260,000 |
