Established in 1944, the International Monetary Fund (IMF) supports countries’ economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities.

Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate balance of payments difficulties.

In this graphic, we visualize the 10 countries most indebted to the fund.

We compiled this ranking using the International Monetary Fund’s data on Total IMF Credit Outstanding. We selected the latest debt data for each country, accurate as of April 29, 2024.

Argentina’s debt to the IMF is equivalent to 5.3% of the country’s GDP. In total, the country owns more than $32 billion.

CountryIMF Credit Outstanding ($B)GDP ($B, 2024)IMF Debt as % of GDP

🇦🇷 Argentina32604.35.3

🇪🇬 Egypt11347.63.1

🇺🇦 Ukraine9188.94.7

🇵🇰 Pakistan7374.71.8

🇪🇨 Ecuador6121.64.9

🇨🇴 Colombia3386.10.8

🇦🇴 Angola392.13.2

🇰🇪 Kenya3104.02.8

🇬🇭 Ghana275.22.6

🇨🇮 Ivory Coast286.92.3

A G20 member and major grain exporter, the country’s history of debt trouble dates back to the late 1890s when it defaulted after contracting debts to modernize the capital, Buenos Aires. It has already been bailed out over 20 times in the last six decades by the IMF.