Top 25 Countries with the Highest Debt to the IMF

Select Language:

Top 25 Countries with the Highest Debt to the IMF in 2025

Argentina Leads with the Largest Debt Burden

Argentina remains at the top of the list, owing approximately $56.8 billion to the International Monetary Fund (IMF). The South American nation has faced recurring economic challenges, including inflation and currency fluctuations, leading it to seek substantial IMF assistance repeatedly. As of 2025, Argentina continues to grapple with its debt obligations, impacting its economic stability and policy options.

Ukraine’s Debt Situation Amid Ongoing Conflicts

Ukraine, embroiled in ongoing conflicts, owes around $14.1 billion to the IMF this year. The debt reflects Ukraine’s efforts to stabilize its economy amidst security risks, economic disruptions, and the need for reconstruction assistance. The country’s reliance on IMF programs underscores the global community’s support amid its geopolitical challenges.

Egypt’s Strategic Borrowing to Support Economic Reforms

Egypt owes the IMF about $9.4 billion in 2025. The North African nation has been implementing structural reforms to boost growth, improve fiscal sustainability, and attract foreign investment. Its debt obligations are part of broader efforts to recover from economic downturns and improve living standards.

Pakistan’s Continued Financial Commitments

Pakistan’s debt to the IMF stands at $8.9 billion this year. As a country facing balance-of-payments issues and energy shortages, Pakistan leverages IMF funding to fund essential reforms and stabilize its economy. The ongoing financial support is vital for maintaining economic stability.

Ecuador’s Economic Stabilization Efforts

Ecuador owes approximately $8.5 billion, reflecting its ongoing efforts to manage inflation and public debt. The country relies on IMF programs to support its economic recovery and implement necessary reforms to improve fiscal health.

Bangladesh and Côte d’Ivoire in the Debt Club

Bangladesh, with a debt of $3.9 billion, continues to pursue development goals through IMF assistance. Meanwhile, Côte d’Ivoire also owes around $3.5 billion, highlighting the role of IMF programs in supporting growth in West Africa.

Kenya and Ghana: West African and East African Debt Profiles

Kenya’s debt to the IMF is about $3.5 billion, supported by structural reforms aimed at boosting its economy. Ghana, with a debt of $3.3 billion, relies on IMF support to tackle inflation and stabilize its currency.

DR Congo and Costa Rica: Managing Resource and Fiscal Challenges

The Democratic Republic of the Congo owes roughly $3 billion, reflecting its efforts to develop its vast resource sector amid economic volatility. Costa Rica’s debt of $2.7 billion underscores its focus on fiscal discipline and economic resilience.

Sri Lanka and Ethiopia Rebuilding Post-Crisis

Sri Lanka owes $2.2 billion, with IMF programs facilitating recovery from economic collapse and external shocks. Ethiopia’s debt of $2.1 billion highlights ongoing reforms to stimulate growth despite geopolitical tensions.

Jordan, Tanzania, and Cameroon: Navigating Regional Instability

Jordan’s $1.9 billion debt captures its need to support economic stability amidst regional uncertainties. Tanzania and Cameroon owe $1.8 billion and $1.6 billion respectively, as they work on developing infrastructure and attracting investment.

Zambia, Morocco, and Uganda: African Debt Dynamics

Zambia has a debt of $1.4 billion, focusing on debt restructuring and economic diversification. Morocco’s $1.3 billion debt reflects investments in renewable energy and infrastructure, while Uganda owes $1.2 billion for poverty reduction and development projects.

Senegal, Madagascar, and Rwanda: Emerging Economies

Senegal, with $1.2 billion in IMF debt, is emphasizing agricultural development and social programs. Madagascar’s $900 million debt is linked to stability efforts amid political upheaval. Rwanda’s $700 million debt supports post-pandemic economic recovery initiatives.

Jamaica, Papua New Guinea, and Guinea: The Smaller Debt Holders

Jamaica owes $600 million, focusing on tourism and renewable energy investments. Papua New Guinea’s $500 million debt underpins resource extraction and infrastructure projects. Guinea’s $400 million debt reflects efforts to stabilize its economy after recent crises.

Note: This data is based on SDRs converted to USD at an approximate rate of 1 SDR ≈ $1.36 USD, as of January 2026.

Sources: International Monetary Fund (IMF), 2025 Data

This comprehensive overview underscores the diverse economic challenges faced by countries worldwide as they manage their IMF debts amidst a complex global landscape.