Ghana has been ranked the fifth most indebted African country to the International Monetary Fund (IMF) as of August 2025, with its position unchanged from the previous month.
Data from the IMF shows that Ghana’s outstanding credit stands at Special Drawing Rights (SDR) 2.70 billion.
Egypt tops the list with SDR 7.18 billion, although this represents a slight drop compared to July 2025. Côte d’Ivoire follows in second place with SDR 3.10 billion, while Kenya is third with SDR 3.02 billion.
The Democratic Republic of Congo, Ethiopia, Tanzania, Cameroon and Zambia complete the top 10 list of African countries with the highest debts to the Fund.
Analysts caution that although IMF financing can provide short-term relief, heavy dependence on the institution risks undermining economic autonomy and long-term credibility. Overexposure also comes with policy conditions that may restrict national development priorities.
Experts stress that African economies must manage borrowing carefully to avoid falling into debt traps and to ensure sustainable growth.
