Top 10 Countries Most in Debt to the IMF

The New Diplomat
Writer

Ad

King Charles, Pope Leo pray together in historic first

King Charles III on Thursday became the first head of the Church of England to pray publicly with a pope since the schism with Rome 500 years ago, in a service led by Leo XIV. The 76-year-old monarch and his wife, Queen Camilla, joined the US-born pope in the Sistine Chapel for a 30-minute service…

Tears as Ghana’s Ex-First Lady Nana Konadu Rawlings Dies at 76

By Abiola Olawale Ghana is shrouded in grief on Thursday, October 23, 2025, following the passing of a former First Lady, Nana Konadu Agyeman-Rawlings, who died at the age of 76 in Accra. ​Sources close to the family confirmed that the former First Lady, the widow of the late President Jerry John Rawlings, passed away…

PDP Crisis: BoT Members Dismiss Anyanwu’s Forgery Claims,  Says It’s “Baseless and Misleading”

The internal crisis rocking the Peoples Democratic Party (PDP) has continued to deepen following a sharp rebuttal from the party's Board of Trustees (BoT) against allegations of signature forgery made by its National Secretary, Senator Samuel Anyanwu. ​The BoT, in a statement issued on Thursday, dismissed Anyanwu's claims as "baseless, misleading, and reprehensible," insisting the…

Ad

By Bruno Venditti

Established in 1944, the International Monetary Fund (IMF) supports countries’ economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities.

Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate balance of payments difficulties.

In this graphic, we visualize the 10 countries most indebted to the fund.

Methodology

We compiled this ranking using the International Monetary Fund’s data on Total IMF Credit Outstanding. We selected the latest debt data for each country, accurate as of April 29, 2024.

Argentina Tops the Rank

Argentina’s debt to the IMF is equivalent to 5.3% of the country’s GDP. In total, the country owns more than $32 billion.

Country IMF Credit Outstanding ($B) GDP ($B, 2024) IMF Debt as % of GDP
🇦🇷 Argentina 32 604.3 5.3
🇪🇬 Egypt 11 347.6 3.1
🇺🇦 Ukraine 9 188.9 4.7
🇵🇰 Pakistan 7 374.7 1.8
🇪🇨 Ecuador 6 121.6 4.9
🇨🇴 Colombia 3 386.1 0.8
🇦🇴 Angola 3 92.1 3.2
🇰🇪 Kenya 3 104.0 2.8
🇬🇭 Ghana 2 75.2 2.6
🇨🇮 Ivory Coast 2 86.9 2.3

A G20 member and major grain exporter, the country’s history of debt trouble dates back to the late 1890s when it defaulted after contracting debts to modernize the capital, Buenos Aires. It has already been bailed out over 20 times in the last six decades by the IMF.

Five of the 10 most indebted countries are in Africa, while three are in South America.

The only European country on our list, Ukraine has relied on international support amidst the conflict with Russia. It is estimated that Russia’s full-scale invasion of the country caused the loss of a third of the country’s economy. The country owes $9 billion to the IMF.

In total, almost 100 countries owe money to the IMF, and the grand total of all of these debts is $111 billion. The above countries (top 10) account for about 69% of these debts.

Source: Visual Capitalist

Ad

X whatsapp