Recent IMF figures show that Ghana’s outstanding debt to the Fund stands at 2.59 billion Special Drawing Rights (SDR). Egypt tops the list of African borrowers with 6.89 billion SDR, making it the continent’s largest debtor. Côte d’Ivoire ranks second with 3.10 billion SDR, followed by Kenya with 3.01 billion SDR and Angola with 2.66 billion SDR.
Both Nigeria and Morocco remain outside Africa’s top ten IMF debtors. Experts note that while IMF loans provide temporary economic relief, they also raise long-term debt concerns. Economists warn that increasing dependence on IMF funds could strain national budgets. They stress the need for strong fiscal discipline to
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