IMF Debt Hits Record as African Countries Feature Among Top Borrower

The International Monetary Fund’s (IMF) total outstanding credit rose to SDR 124.36 billion (about $166.6 billion) as of August 13, 2026, with Argentina remaining the Fund’s largest debtor

Four African countries — Côte d’Ivoire, Ghana, Kenya and the Democratic Republic of Congo — ranked among the IMF’s top 10 borrowers, highlighting continued economic and debt pressures across the continent.

Meanwhile, Kenya’s High Court has upheld the IMF’s diplomatic immunity, removing the Fund from a case challenging the country’s public debt. However, the court declined to dismiss the wider petition, allowing the legal challenge over Kenya’s borrowing to continue.