Top 25 Countries with Highest Debt to IMF

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Countries Leading in Debt to the IMF in 2025

Argentina Tops the List With the Highest Debt at $56.8 Billion
Argentina continues to be the country with the most significant debt obligations to the International Monetary Fund (IMF). Despite ongoing negotiations and economic reforms, the nation’s total debt to the IMF has escalated to nearly $57 billion. This substantial figure reflects years of economic instability, currency devaluations, and challenges in implementing structural reforms. The IMF remains a critical player in Argentina’s efforts to stabilize its economy and restore growth.
Ukraine’s Debt Reaches $14.1 Billion Amidst Recovery Efforts
Ukraine, amid post-war recovery and rebuilding efforts, has accumulated $14.1 billion in debt to the IMF. The country’s economic reconstruction has been strenuous, with extensive international aid and loans necessary to support infrastructure, government reforms, and social programs. The IMF continues to monitor Ukraine’s fiscal health while supporting reforms aimed at transparency and stability.
Egypt Debts Over $9.4 Billion as It Implements Economic Overhauls
Egypt’s government has borrowed over $9.4 billion from the IMF to fund key economic reforms, including currency stabilization and subsidy reductions. The nation aims to foster a more diversified economy, attract foreign investment, and reduce inflation. Egypt’s cooperation with IMF signifies its commitment to long-term economic stability, despite short-term hardships.
Pakistan’s Debt Surpasses $8.9 Billion, Facing Political and Fiscal Challenges
Pakistan owes the IMF $8.9 billion, reflecting ongoing fiscal deficits and political challenges. The country’s borrowing aims to address balance of payments issues, improve infrastructure, and stabilize its currency. However, recent political unrest and economic vulnerabilities complicate efforts to maintain fiscal discipline.
Ecuador’s $8.5 Billion Debt Highlights Economic Transition
Ecuador owes approximately $8.5 billion to the IMF as it navigates economic reforms amidst fluctuating oil prices and social demands. The country’s debt is tied to efforts to implement austerity measures, improve revenue collection, and attract foreign investment to stimulate growth.
Bangladesh and Côte d’Ivoire: The Emerging Economies With Large IMF Debts
Bangladesh, with a debt of $3.9 billion, and Côte d’Ivoire at $3.5 billion, are among the fastest-growing economies in their regions. Their IMF loans focus on infrastructure development, poverty reduction, and improving fiscal management to sustain rapid growth.
Kenya and Ghana: Central African Players with Significant Government Borrowing
Kenya’s debt stands at $3.5 billion, while Ghana’s is close behind at $3.3 billion. Both countries are leveraging IMF assistance to bolster their economies, tackle inflation, and upgrade healthcare and education systems amid global economic uncertainties.
DR Congo and Costa Rica: Navigating Debt Amid Political and Economic Transitions
The Democratic Republic of Congo has accumulated $3 billion in debt, reflecting challenges related to governance and resource management. Costa Rica, with $2.7 billion owed, is implementing reforms to reduce public sector debt and improve fiscal sustainability.
Sri Lanka, Ethiopia, and Jordan: Countries in Transition with Moderate Debts
Sri Lanka owes $2.2 billion, Ethiopia $2.1 billion, and Jordan $1.9 billion. These nations are focusing on structural reforms to recover from economic shocks, stabilize currencies, and boost agricultural and industrial sectors.