Omanghana
As of March 2026, Egypt remains the African country with the highest outstanding debt to the International Monetary Fund (IMF), according to the latest available credit data. The ranking reflects the total value of IMF loans currently owed by African countries, highlighting the extent to which several economies on the continent continue to rely on international financial support.
Egypt’s IMF debt stands at approximately $7.55 billion, making it the largest borrower from the institution in Africa. The country’s obligations alone account for nearly one-third of the total debt owed by the continent’s ten largest IMF borrowers.
Following Egypt is Côte d’Ivoire with an outstanding balance of about $3.63 billion. The West African economy has relied on IMF financing in recent years to support fiscal stability, infrastructure development, and broader economic reforms.
Kenya ranks third with roughly $2.94 billion owed to the IMF. The country has maintained multiple IMF-supported programs aimed at strengthening fiscal discipline and managing public debt levels.
In fourth place is Ghana, which owes approximately $2.84 billion. Ghana entered an IMF-supported program in response to economic challenges that included rising debt levels, currency pressures, and inflation.
Angola follows with an estimated $2.44 billion in IMF obligations. The country recently reduced its balance through repayments totaling about $60.9 million in March 2026.
The Democratic Republic of the Congo holds the sixth position with around $2.22 billion in outstanding IMF credit, reflecting the country’s ongoing efforts to stabilize its economy while expanding development projects.
Ethiopia ranks seventh with approximately $1.76 billion in debt to the IMF. Economic reforms and recovery efforts have driven continued engagement with the institution.
In eighth place is Tanzania, which has about $1.34 billion in IMF obligations. The country has used IMF facilities primarily to support macroeconomic stability and development initiatives.
Zambia follows with an outstanding balance of roughly $1.27 billion. In February 2026, the country requested a new IMF-supported program to maintain fiscal stability after completing its previous $1.7 billion Extended Credit Facility.
Rounding out the list is Cameroon, with approximately $1.18 billion owed to the IMF.
Interestingly, Nigeria does not appear among the top twenty African IMF debtors. By early 2026, the country had largely settled its obligations to the IMF, significantly reducing its outstanding credit with the institution.
The data illustrate the varying levels of reliance on IMF financing across African economies, as governments continue to balance development needs, fiscal reforms, and economic stabilization efforts.
Source: Omanghana
