Ghana continues to occupy the fifth-highest position among African countries in terms of outstanding debt to the International Monetary Fund (IMF), according to data from Joy Business as of August 2025. The nation’s credit exposure to the Fund stands at approximately SDR 2.70 billion, a figure unchanged from the previous month. Strikingly, only Egypt, Côte d’Ivoire, Kenya, and Angola report higher outstanding balances.
Egypt leads the pack with SDR 7.18 billion, followed by Cote d’Ivoire at SDR 3.10 billion, Kenya with SDR 3.02 billion, and Angola trailing just above Ghana with around SDR 2.72 billion. Countries like the Democratic Republic of Congo, Ethiopia, Tanzania, Cameroon, and Zambia round out the list in the subsequent positions.
While the IMF serves as a crucial source of financial support for emergency and structural assistance, analysts warn of the long-term risks associated with prolonged participation in IMF programs. These include constraints on fiscal autonomy and potentially stalled economic development if governments remain heavily reliant on such loans.
