As the second half of 2025 rolls along, the shadow of substantial debt loads continues to loom large over much of Africa. Many African countries grapple with complex debt agreements, a significant portion of which includes sizable commitments to the International Monetary Fund (IMF).
- Business Insider Africa presents the top 10 African countries with the lowest debt to the IMF in June 2025.
- This list is courtesy of data from the IMF’s website.
- Lesotho ranks number 1 on the list.
However, amidst this challenging economic landscape, a select group of African countries is beginning to reveal a distinct strategic advantage: those that have meticulously managed to maintain relatively low IMF debt profiles.
The primary and most impactful advantage of having minimal or no outstanding debt to the IMF is the profound leverage, flexibility, and much-needed breathing room it affords these African nations.
In an international economic environment characterized by escalating interest rates, increasingly stringent lending requirements from global institutions, and heightened scrutiny of public debt, this financial independence is invaluable.
Without the immediate pressure of IMF obligations, these countries are better positioned to navigate the complexities of global finance on their terms.
One of the most critical aspects of this autonomy lies in the reduced influence of foreign factors on domestic economic decisions.
Furthermore, a low IMF debt level serves as a powerful indicator of prudent financial management and robust fiscal discipline.
It unequivocally demonstrates that a nation has successfully managed budgetary risks, assiduously avoided the necessity for emergency borrowing, and meticulously preserved its reputation within the global financial community.
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The ripple effects of such a positive financial reputation are substantial. Prudent money management often translates directly into improved sovereign credit ratings from international agencies.
A higher credit rating, in turn, makes it easier and significantly less expensive for these nations to access capital from a diverse range of sources, including private markets and other multilateral lenders.
With that said, here are the 10 African countries with the largest debt to the IMF, according to the IMF’s website.
Compared to the list last month, Eswatini now holds the top spot, with an incredibly low IMF credit in contrast to most other African countries, going from 19,625,000 to 9,812,500
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Top 10 African countries with the lowest IMF debt in June 2025
| Rank | Country | Total IMF Credit Outstanding ($) as of 06/24/2025 |
|---|---|---|
| 1. | Eswatini | 9,812,500 |
| 2. | Lesotho | 11,660,000 |
| 3. | Comoros | 19,887,940 |
| 4. | Sao Tome & Principe | 27,158,013 |
| 5. | Djibouti | 31,800,000 |
| 6. | Guinea-Bissau | 51,174,400 |
| 7. | Equatorial Guinea | 51,496,501 |
| 8. | Cabo Verde | 72,116,000 |
| 9. | Somalia | 87,000,000 |
| 10. | Namibia | 95,550,000 |
