As of today, data shows that several African nations are among the top borrowers, relying heavily on IMF credit to fund development projects and stabilize their economies.
Globally, Afghanistan, Albania, and Argentina rank as the biggest IMF debtors. However, Africa also has its fair share of countries with large outstanding loans.
According to the IMF, the total outstanding credit worldwide stands at over KSh 22.6 trillion.
Out of this, Africa accounts for a significant portion, reflecting the continent’s ongoing struggle with debt sustainability.
Egypt leads the continent with the highest IMF debt, amounting to SDRs 7.18 billion (about KSh 1.33 trillion). This is followed by Côte d'Ivoire with SDRs 3.10 billion (KSh 575 billion) and Kenya with SDRs 3.02 billion (KSh 560 billion).
These three countries take the top spots among African borrowers.
Other major African borrowers include Angola at SDRs 2.72 billion (KSh 505 billion) and Ghana at SDRs 2.70 billion (KSh 502 billion).
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