Kenya Ranks Third in List of Africa’s Biggest IMF Borrowers

The International Monetary Fund (IMF) has revealed the top African borrower countries in the Total IMF Credit Outstanding Movement.

According to IMF data, Kenya ranked third among African countries with the highest outstanding IMF credit between June 1 and 17, while Egypt topped the list.

Kenya has an outstanding debt of KSh 509.35 billion, while Egypt has an outstanding debt of about KSh 1.284 trillion.

However, the IMF clarified that the Total IMF Credit Outstanding Movement is subject to changes and adjustments.

“This data is subject to regular formal reviews and may be subject to change or adjustment due to pending transactions,” the IMF explained on the outstanding recorded debt.

IMF Lists African Debtors

Apart from Kenya and Egypt, the IMF listed 43 African countries with outstanding debts as of June 17.

Côte d’Ivoire has a debt of KSh 631.6 billion, making it the second-largest country in Africa by outstanding debt.

Further, Ghana has a debt of KSh. 483.5 billion, while Angola recorded KSh 408.4 billion in debt.

The Democratic Republic of the Congo recorded as the African country with the lowest debt, according to the IMF, at KSh 389.4 billion.

As of June 17, 2026, the outstanding credit for Ethiopia, Tanzania, and Zambia remained unchanged from their May 31, 2026.

Ethiopia maintained a debt of KSh 312.76 billion, Tanzania had a debt of KSh 236.82 billion, while Zambia maintained a debt of KSh 225.46 billion.

Also Read: Kenya Shifts IMF Loan Focus as Fund Sets Conditions for New Program

Debt Repayment Comparison

Angola made the largest repayment of the debt, paying about KSh 23.75 billion of its total debt.

Côte d’Ivoire repaid KSh 7.17 billion, while Tunisia repaid KSh 5.97 billion. Sierra Leone and Senegal recorded the lowest debt repayments.

According to IMF data, Sierra Leone repaid KSh 3.24 billion, while Senegal repaid KSh 2.76 billion.

Additionally, other countries with debt repaid in smaller amounts include Benin, Equatorial Guinea, Guinea, Guinea-Bissau, Liberia, Madagascar, Malawi, Mali, Mauritania, Niger, Rwanda, and South Sudan.

With most African countries already in debt, Rwanda and Guinea-Bissau received new loan disbursements.

Rwanda received a new loan of about KSh 4.69 billion, while Guinea-Bissau received KSh 209.17 million.

Also Read: Kenyans Face Higher Loan Costs as Bankers Push for CBK Rate Hike

IMF Global Loans

Over the period from May 31, the International Monetary Fund issued total credits of about KSh 21.71 trillion.

New loan disbursements were about KSh 31.68 billion, while repayments received totaled KSh 96.92 billion.

Further, the IMF‘s new deductions were KSh 65.26 billion, bringing the total of credits issued on June 17 to KSh 21.64 trillion.

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