Top 10 African countries with the highest IMF debt in October 2025

While IMF loans are generally viewed as financial lifelines, their terms are also associated with high costs.

In some African countries, IMF programs forced governments to impose austerity measures such as subsidy cuts, tax increases, and public sector budget cuts, all of which had serious socioeconomic implications.

As inflation rises and local currencies fall, servicing IMF debts becomes more expensive.

Many African countries must now devote a considerable amount of national revenue to debt repayment rather than investing in essential sectors such as healthcare, education, and infrastructure.

The growing reliance on IMF financing has generated concerns about Africa’s economic sovereignty. Critics contend that the terms tied to these loans frequently favor economic discipline over growth and human development.

In many situations, IMF proposals have hindered the government’s ability to pursue people-centered policies or engage in long-term initiatives that promote industrialization and job growth.

Furthermore, as countries struggle to satisfy debt repayments, investor confidence declines.

Credit ratings fall, interest rates rise, and access to foreign capital markets becomes more difficult, locking countries in a vicious cycle of debt and dependency.

Recently, Kristalina Georgieva, the IMF’s Managing Director, indicated that the financier will send a team to Senegal to begin discussions on a new financial support package.

This follows the resolution of previous challenges related to debt transparency in the country.

This is despite the fact that the IMF’s 2025 Regional Economic Outlook warned that several sub-Saharan African governments are increasingly borrowing domestically at rising costs, which might push out private investment and stress banking systems.

With that said, here are the African countries with the largest debts to the IMF in October, 2025.