10 African countries with the lowest debts to the IMF
Countries with lower debt levels are better positioned to maintain economic stability. High debt can lead to financial crises, currency devaluation, and inflationary pressures, just to mention a few.
By adopting a conservative approach to external borrowing, African nations can mitigate these risks and work towards creating a stable economic environment conducive to sustainable growth
Maintaining a low debt burden can offer several advantages that contribute to the overall economic well-being of a nation, and some African countries have done a good job at this, especially with specific lenders.
The International Monetary Fund (IMF) is a major actor in global finance, providing financial support to states experiencing economic problems.
However, IMF loans can have a wide range of consequences for its economy. These consequences are felt way less in some African regions than others, owing to how little the loans said countries have procured from the global lender.
With that said, below are the 10 African countries with the lowest debts to the IMF, courtesy of the IMF’s official website. Also, the list captures the data as of the 6th of December 2023.
| Rank | Country | Debt amount |
|---|---|---|
| 1. | Sao Tome & Principe | $24,816,432 |
| 2. | Djibouti | $31,800,000 |
| 3. | Lesotho | $31,995,000 |
| 4. | Guinea-Bissau | $41,073,400 |
| 5. | Cabo Verde | $50,720,000 |
| 6. | Equatorial Guinea | $76,537,000 |
| 7. | Eswatini | $78,500,000 |
| 8. | Gambia | $97,762,500 |
| 9. | Seychelles | $98,419,500 |
| 10. | Burundi | $103,100,000 |
