Top 10 African countries with the lowest debt to the IMF in May 2026

Many African countries are facing pressure from rising borrowing costs, inflation, weaker currencies, and slow global growth. In this environment, countries with low debt to the International Monetary Fund (IMF) are gaining more room to manage their economies and fund development priorities.

Lower IMF debt reduces pressure on public finances and allows governments to spend more on infrastructure, healthcare, education, manufacturing, and energy projects instead of loan repayments. It also helps countries strengthen investor confidence, maintain currency stability, and reduce the risk of financial crises linked to external debt burdens.

Across Africa, maintaining manageable debt levels is becoming more important as governments seek to balance economic growth with financial stability. Countries with lower IMF debt may have more flexibility to invest in development priorities while limiting exposure to external financial shocks.

As borrowing conditions remain tight globally, debt management, fiscal discipline, and transparency are expected to remain key issues for many African economies in the coming years.

Recent developments across Africa as shown how debt management is becoming part of wider economic planning.

Namibia recently cleared all its outstanding IMF obligations after repaying about $23.9 million. The move increased the country’s financial flexibility at a time when many developing economies are dealing with rising debt servicing costs.

Zambia has also continued work on debt restructuring and fiscal reforms following its sovereign debt default. The IMF recently completed the final review of a support programme tied to those reforms.

In Senegal, authorities have focused on improving debt transparency and aligning public debt reporting with IMF standards after concerns linked to previously undisclosed liabilities.

According to IMF data as of 28 May 2026, several African countries currently maintain relatively low levels of outstanding debt to the institution.

Below are the 10 African countries with the lowest IMF debt in May 2026.

Lesotho has the lowest IMF debt among African countries listed in the latest data. The country’s outstanding balance stands at $10.49 million.

Low debt obligations may provide more fiscal room for Lesotho to support sectors such as agriculture, healthcare, and public infrastructure while limiting pressure from external repayments.

Djibouti’s IMF debt stands at $25.44 million.

The country has continued to position itself as a logistics and trade hub in the Horn of Africa due to its location along one of the world’s major shipping routes. Lower IMF debt may support efforts to expand transport and port infrastructure while maintaining economic stability.

Comoros recorded IMF debt of $25.82 million.

The island nation relies on sectors such as agriculture, fishing, and remittances. Maintaining relatively low external debt obligations may help the government focus on development spending and economic reforms.

4. Sao Tome & Principe – $30.27 million

Sao Tome & Principe has outstanding IMF debt of $30.27 million.

The country has continued efforts to strengthen tourism, agriculture, and energy development. Lower debt obligations may help reduce fiscal pressure and support investment in public services.

5. Equatorial Guinea – $31.34 million

Equatorial Guinea recorded IMF debt of $31.34 million.

Although the country remains dependent on oil revenues, lower IMF debt may help authorities manage economic risks linked to fluctuations in global oil prices.

6. Guinea-Bissau – $56.27 million

Guinea-Bissau’s outstanding IMF balance stands at $56.27 million.

The country continues to face development and governance challenges, but lower IMF debt levels may help create room for public investment and economic reforms.

7. Cabo Verde – $79.52 million

Cabo Verde has IMF debt of $79.52 million.

Tourism remains a major source of revenue for the island nation. Lower debt obligations may support economic recovery efforts and investment in infrastructure linked to tourism and transport.

Burundi’s IMF debt stands at $100.1 million.

The country continues to depend heavily on agriculture, which employs a large share of the population. Lower IMF debt may help reduce repayment pressure on government finances.

Somalia recorded IMF debt of $116.3 million.

The country has continued efforts to rebuild its economy and financial institutions following years of conflict and instability. International debt relief initiatives and reforms have played a role in reducing debt burdens over time.

10. Seychelles – $133.55 million

Seychelles rounds out the list with IMF debt of $133.55 million.

Tourism remains central to the country’s economy. Lower IMF debt may support fiscal planning and economic resilience, especially during periods of global economic uncertainty.