Top IMF Debt Holders In Africa: Nigeria, Egypt, And Others Listed

Top IMF Debt Holders In Africa: Nigeria, Egypt, And Others Listed

The International Monetary Fund (IMF) has identified several African countries with significant indebtedness to the global financial institution. According to a recent IMF report dated July 19, 2024, these countries have the highest outstanding IMF credit balances……. CONTINUE READING

Egypt leads the list with a substantial debt of $10,215,014,179, followed by Angola with $2,989,900,003 and Kenya with $2,566,263,300. Ghana owes approximately $2.3 billion, while Cote d’Ivoire’s debt stands at about $2.2 billion. South Africa follows with debts totaling $1,907,000,000, and the Democratic Republic of Congo owes around $1.6 billion. Nigeria, Africa’s largest economy, has an IMF debt of $1,227,250,000. Senegal and Morocco complete the top 10 list with debts of $1,143,348,750 and $1,056,550,000, respectively.

IMF loans to these countries often come with conditions such as economic reforms and policy changes aimed at stabilizing their economies.