While many African countries struggle with high debt burdens to the International Monetary Fund (IMF), some countries have distinguished themselves by managing their debt loads effectively.
- Business Insider Africa presents the top 10 African countries with the lowest debt to the IMF in March 2025.
- This list is courtesy of data from the International Monetary Fund.
- Lesotho ranks number 1 on the list.
As some African countries face rising economic challenges from global inflation, high unemployment rates, and slow development, the necessity of maintaining a low debt load with the International Monetary Fund (IMF) has never been greater.
High IMF debt might limit African nations’ fiscal flexibility, undermine currency stability, and raise susceptibility to external shocks.
In contrast, nations with minimal IMF debt are better positioned to promote long-term growth and economic resilience.
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IMF loans have always been a two-edged sword for African countries. While they offer much-needed financing during economic downturns, they frequently come with strict terms that necessitate austerity measures.
In the past, these approaches have led to decreased government spending on key services, more unemployment, and higher poverty rates.
Governments may exert more control over their economic policies without outside intervention when they have low levels of debt. This adaptability is essential for tackling socioeconomic issues in the area.
Additionally, economies with steady debt levels are more likely to attract investors. A low IMF debt indicates sound fiscal management, which boosts economic expansion and investor confidence.
With that said, here are the African countries with the lowest debt to the International Monetary Fund in March 2025, as seen on the IMF’s website.
Compared to the list of the 10 countries with the lowest debt to the IMF last month, the following countries including Eswatini, and Equatorial Guinea, saw a slight reduction in their debt load in March.
Every other country retained about the same level of debt it had last month.
Top 10 African countries with the lowest debt to the IMF in March 2025
| Rank | Country | Total IMF Credit Outstanding as of 03/25/2025 ($) |
|---|---|---|
| 1. | Lesotho | 11,660,000 |
| 2. | Eswatini | 19,625,000 |
| 3. | Comoros | 20,628,865 |
| 4. | Sao Tome & Principe | 27,602,011 |
| 5. | Djibouti | 31,800,000 |
| 6. | Guinea Bissau | 52,291,400 |
| 7. | Equatorial Guinea | 59,843,334 |
| 8. | Cabo Verde | 72,116,000 |
| 9. | Somalia | 87,000,000 |
| 10. | Seychelles | 99,839,500 |
