List Of Countries In Africa And Their Debts

Most African countries are in huge debt and most of these debts are incurred in foreign currency dominations especially in the United States Dollar that the value becomes higher in the domestic currencies.

The international monetary fund (IMF) and the World Bank who are the world financial regulatory bodies have issued a stern warning to a number of counties with regards to their borrowing attitudes as most are headed into debt distress and joining the list HIPC.

The IMF typically recommends that loans do not take beyond 60% of Gross Dometic Product (GDP) but most African countries use about 70% of their GDP to pay interest on their loans that they find it difficult to finance the domestic activities and have to go in for more loans.

The list below captures the current values of some countries in Africa and their debt as reported. You can also check an expanded form of the list By Word Bank.

1.  Nigeria – $81.9 billion
2. Senegal – $61.786 billion
3. Ghana – $38.724 billion
4. Ethiopia – $25 billion
5. Angola – $25 billion
6. Cameroon – $17.95 billion
7. Uganda – $14.38 billion
8. Congo Republic – $12.2 billion
9. Zambia – $11.5 billion
10. Mali – $6.52 billion
11. Sudan – $6.4 billion