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As of December 22, 2025, Ghana’s outstanding exposure to the IMF stands at Special Drawing Rights (SDR) 2.85 billion, equivalent to approximately US$4.13 billion.
The figure is expected to rise further following the country’s recent receipt of US$365 million, representing the fifth tranche of the IMF bailout programme signed in 2022.
Egypt tops the list of African countries with the highest outstanding IMF debt, with total exposure estimated at SDR 6.58 billion. It is followed by Côte d’Ivoire with SDR 3.63 billion and Kenya with SDR 2.95 billion, placing Ghana fourth on the continent.
While IMF support provides short-term balance-of-payments relief and policy credibility, it also adds to overall public debt and comes with strict conditionalities that can constrain fiscal flexibility.
High levels of IMF borrowing require careful fiscal management to ensure long-term debt sustainability, particularly as countries work to meet programme targets related to revenue mobilisation, expenditure control, and structural reforms.
Ghana’s broader debt situation remains under pressure. Public debt increased by GH¢71.6 billion in the third quarter of 2025, pushing the country’s total debt stock to GH¢684.6 billion (US$55.1 billion) as of September 2025.
The rising debt burden continues to highlight the importance of sustained fiscal discipline and economic recovery efforts under the IMF-supported programme.
Source: joynews
