Ghana places 4th in Africa with highest outstanding debt to IMF

Ghana ranks 4th in Africa for outstanding debt to the International Monetary Fund (IMF), with a debt of 2.275 billion Special Drawing Rights (SDR), equivalent to $3.068 billion, according to the IMF's 2024 Quarterly Financial Statement.

Egypt tops the list, followed by Angola and Kenya. Nigeria and Morocco have dropped out of the top ten, while Cameroon and Ethiopia have entered.

While IMF loans provide temporary relief, they increase a country’s overall debt and come with conditions, requiring careful fiscal management to avoid financial strain.