The IMF ranking has placed Ghana 10th among African countries with the highest total debt outstanding, as of the end of 2024. This update, shared on December 23, shows that Ghana now ranks just below Cote d'Ivoire, while Morocco has replaced Senegal in the top 10.Many African nations, including Ghana, are becoming increasingly familiar with the IMF as they turn to the global lender to help fix their struggling economies.

0

However, borrowing from the IMF often comes with strict conditions in the form of Structural Adjustment Programs (SAPs), which raise concerns about whether these loans are truly beneficial.While the IMF loans aim to stabilize economies in crisis, they can also cause more harm, with high debts leading to a cycle of borrowing and repayment.

1

As governments use significant funds to pay off debts, there is less money available for essential investments, leaving countries vulnerable to external shocks like natural disasters, global crises, or commodity price changes.This situation highlights the ongoing challenges for African countries, where the cost of servicing IMF loans continues to be a major concern.<img src="

alt="" />Watch

2

the latest edition of BizTech below:

3