Business News of Tuesday, 1 October 2024
Source: africa.businessinsider.com
Top 10 African countries with the highest debt to the IMF in Q3 of 2024
IMF approves $8 billion bailout package for Egypt's economic revival
As of September 27, 2024, Egypt leads African countries with the highest debt to the International Monetary Fund (IMF), with a total credit outstanding of over $10 billion.
The list includes Angola ($2.99 billion), Kenya ($2.57 billion), Ghana ($2.28 billion), and Ivory Coast ($2.25 billion).
Other notable countries are the Democratic Republic of Congo, South Africa, Senegal, Cameroon, and Ethiopia.
While IMF loans can provide essential financial support for economic stabilization, they may also increase total debt and impose management challenges for the borrowing countries.
