Ghana has been ranked as the fifth African country with the highest debt to the International Monetary Fund (IMF) as of October 2025.
According to the latest data from the IMF, Ghana owes 2.59 billion Special Drawing Rights (SDR) to the Fund.
Egypt tops the list with an outstanding debt of 6.89 billion SDR, making it the highest debtor to the IMF in Africa. Côte d’Ivoire follows in second place with 3.10 billion SDR, Kenya is third with 3.01 billion SDR, and Angola ranks fourth with 2.66 billion SDR.
Meanwhile, Nigeria and Morocco are notably absent from the top ten list of African countries indebted to the IMF.
IMF loans are designed to provide short-term financial relief to member countries facing economic challenges. However, experts warn that such borrowing can also add to a nation’s overall debt burden.
High levels of IMF debt require careful financial management to prevent economic strain. The loans often come with strict conditions that limit a government’s flexibility in spending and policy decisions.
Analysts say Ghana’s growing dependence on IMF support highlights the need for stronger domestic economic strategies and more efficient resource management to ensure long-term stability and reduce reliance on external assistance.
