10 African countries least indebted to the IMF

by MMC
0 comment

Like most other regions, African countries face a myriad of challenges, tailored to their socio-economic realities. These challenges generally have a deterrent effect on the path to sustainable development, and the management of their external debt is a crucial aspect of economic stability. Additionally, low debt levels help reduce the financial vulnerability of African countries.

Maintaining a low debt burden can provide several benefits that contribute to a nation’s overall economic well-being, and some African countries have done good work in this area, particularly with specific lenders.

The International Monetary Fund (IMF) is a major player in global finance, providing financial support to states facing economic difficulties.

However, IMF loans can have many consequences on its economy. These consequences are felt much less in some African regions than in others, due to the few loans these countries have taken out from the global lender.

That said, here are the 10 African countries with the least debt to the IMF, courtesy of IMF official website. Additionally, the list captures data as of December 6, 2023.

Rank Country Amount of debt

1.

Sao Tome and Principe

$24,816,432

2.

Djibouti

$31,800,000

3.

Lesotho

$31,995,000

4.

Guinea-Bissau

$41,073,400

5.

Green cap

$50,720,000

6.

Equatorial Guinea

$76,537,000

7.

Eswatini

$78,500,000

8.

Gambia

$97,762,500

9.

Seychelles

$98,419,500

ten.

Burundi

103 $100,000

You may also like

Leave a Comment

afriqaa (1)

The news website dedicated to showcasing Africa news is a valuable platform that offers a diverse and comprehensive look into the continent’s latest developments. Covering everything from politics and economics to culture and wildlife conservation

u00a92022 All Right Reserved. Designed and Developed by PenciDesign