While loans from the International Monetary Fund (IMF) can provide critical financial support and help to stabilize an economy, they can also come with major obligations and obstacles. When a country receives considerable loan from the IMF, its risks incurring a nagging debt burden. This is why governments, particularly in African countries, attempt to keep their debts reasonable.
A low Total IMF Credit Outstanding typically signifies a healthy economy given its scant dependence on loans from global lenders such as the IMF.
It also means that the country is free from loan obligations synonymous with lenders who wish to have some control over the loans they procure.
Countries with a low debt to the IMF are much less vulnerable to policy changes or economic reforms mandated by the IMF.
Furthermore, a low debt signifies that the nation is better equipped to manage its international financial commitments, maintain a positive balance of payments, and finance imports with less help from outside sources.
Top 10 African countries with the lowest debt to the IMF in Q3 in 2024
| Rank | Country | Total IMF Credit Outstanding as of 09/27/24 |
|---|---|---|
|
1. |
Lesotho |
11,660,000 |
|
2. |
Comoros |
18,847,975 |
|
3. |
Sao Tome & Principe |
24,018,294 |
|
4. |
Djibouti |
31,800,000 |
|
5. |
Eswatini |
39,250,000 |
|
6. |
Guinea-Bissau |
48,920,400 |
|
7. |
Cape Verde |
64,984,000 |
|
8. |
Equatorial Guinea |
74,096,417 |
|
9. |
Somalia |
79,500,000 |
|
10. |
Seychelles |
97,152,000 |
