Ghana was ranked 5th in Africa with the total outstanding debt to the International Monetary Fund in August 2025.

This was unchanged from the July 2025 data.

According to data from the Fund, the country’s outstanding credit is estimated at Special Drawing Rights (SDR) of 2.70 billion.

Egypt came 1st with the largest outstanding credit to the Fund to the tune of SDR7.18 billion.

However, this is slightly lower than July 2025.

In 2nd and 3rd respectively are Cote d’Ivoire (SDR3.10 billion) and Kenya (SDR3.02 billion).

From 6th to 10th are DR Congo, Ethiopia, Tanzania, Cameroon and Zambia.

Though borrowing from the IMF in itself is not bad, the excessive exposure to the Bretton Woods institution can create long-term difficulties that erode economic independence and credibility.

For African countries, the risk of overreliance on the IMF stems not just from the financial load but also from the long-term policy limits imposed.

Therefore, avoiding debt traps is critical for long-term growth and stability.