As it does every year, the International Monetary Fund (IMF) has released the list of the 10 most indebted countries on the African continent at the end of 2021. The level of indebtedness that some countries are experiencing is a concern. However, it should be noted that French-speaking Africa is the least indebted of the continent.
The following is a list of the top 10 African countries with the highest debt ratios at the end of 2021, according to the latest IMF statistics and forecasts:
Sudan with a public debt of 209.9%, Eritrea (175.1%), Cape Verde (160.7%), Mozambique (133.6%), Angola (103.7%), Zambia (101.0%), Mauritius (101.0%), Egypt (91.4%), Tunisia (90.2%) and Congo-Brazzaville (85.4%)
Sudan, in the grip of a severe economic crisis and in a period of political transition since the 2019 coup, remains the most indebted country in Africa. Despite being the continent’s second largest gold producer after Ghana, it is now among the top five poorest countries on the continent. In addition, Angola, despite its oil wealth, is ranked as the 5th most indebted country in Africa. In fact, Angola is suffering from a decline in oil production and exports and a lack of diversification of its economy.
Moreover, as we can see, French-speaking Africa is almost absent from this list. Only three countries (Mauritius, Tunisia, Congo-Brazzaville) occupying respectively the 7th, 9th and 10th positions are among the 10 most indebted countries on the continent. Thus, French-speaking Africa as a whole remains the least indebted part of the continent with an overall debt ratio projected at 58.4% of GDP at the end of 2021 for this group of 25 countries.
Thus, French-speaking Africa as a whole remains the least indebted part of the continent with an overall debt ratio projected at 58.4% of GDP at the end of 2021 for this group of 25 countries.
