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The International Monetary Fund (IMF), has identified some African countries with the highest indebtedness to the global financial institution.
The list of countries with the highest indebtedness was unveiled in a recent report by the IMF, which identified countries of the world including African countries with the highest outstanding IMF credit as of July 19, 2024.
The report said that Egypt ranks first in the list of African countries with massive debt to the IMF, with a total debt of $10,215,014,179.
Nigeria, with a total IMF debt profile of about $1.23 billion, ranks eight on the list.
Below is a list of the top 10 African countries indebted to the IMF and the amount owed.
Egypt: $10,215,014,179
The North African country is the first on the list, with an outstanding debt surpassing $10.2 billion.
Angola: $2,989,900,003
Angola ranks second on the list with almost $3 billion in IMF debt.
Kenya: $2,566,263,300
The country with East Africa’s largest economy has over $2.5 billion in IMF loans.
Ghana: $2,303,438,500
Ghana, located in the West African region, owes the IMF about $2.3 billion.
Cote d’Ivoire: 2,246,318,672
The country is indebted to the tune of about $2.2 billion.
South Africa: $1,907,000,000
Africa’s most industrialized country owes the IMF about $1.9 billion.
Democratic Republic of Congo:Â $1,599,000,000
The East African country owes about $1.5 billion to the IMF.
Nigeria: $1,227,250,000
Nigeria, Africa’s largest economy has approximately $1.23 billion in IMF debts.
Senegal: $1,143,348,750
Senegal’s indebtedness to the IMF is put at about $1.4 billion.
Morocco: $1,056,550,000
The 10th African country on the list owes the IMF about $1 billion
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