EXPLAINERNews|Business and EconomyWhich countries owe the IMF the most money in 2025?From Argentina to Egypt, at least 86 countries collectively owe the International Monetary Fund more than $162bn.
Central bankers and financial delegates convened in Washington, DC, for the annual International Monetary Fund (IMF) and World Bank meetings, concluding on Sat, Oct 14, 2023. Discussions centered on global economic challenges, with the IMF highlighting…
Central bankers and financial delegates convened in Washington, DC, for the annual International Monetary Fund (IMF) and World Bank meetings, concluding on Sat, Oct 14, 2023. Discussions centered on global economic challenges, with the IMF highlighting signs of distress related to US trade tariffs and protectionism.
The IMF, established in 1944 during the Bretton Woods Conference, aims to stabilize the global economy by providing policy advice, financial assistance, and capacity development. It currently has 191 member countries and operates in collaboration with the United Nations and other international bodies.
Membership in the IMF requires approval by existing members and a quota payment based on the size of the applicant's economy. This quota determines the country's contribution, borrowing capacity, and voting power.
The IMF's lending capacity is approximately $1 trillion, sourced from pooled resources of member countries. Creditor nations, typically wealthier and more stable economies, supply these funds and earn interest on their contributions. In 2024, about 50 creditor nations received approximately $5 billion collectively in interest.
IMF debts are expressed as Special Drawing Rights (SDRs), representing a basket of five currencies: the US dollar, euro, pound sterling, Chinese renminbi, and Japanese yen. As of Oct 15, one SDR was equivalent to $1.36. A total of 86 countries owe the IMF SDR 118.9 billion, approximately $162 billion. The largest debtors include Argentina, Ukraine, and Egypt.
Central bankers and financial delegates convened in Washington, DC, for the annual International Monetary Fund (IMF) and World Bank meetings, concluding on Sat, Oct 14, 2023.
Argentina is the IMF's largest borrower, with SDR 41.8 billion ($57 billion) in outstanding credit. The country has a history of repeated borrowing from the IMF, securing the most bailouts in IMF history.
In Apr 2025, Argentina received a $20 billion bailout program to stabilize its economy. Previously, in 2018, Argentina secured a $57 billion loan to address fiscal imbalances.
Ukraine owes the IMF more than $14 billion, largely due to economic disruptions following Russia's invasion in 2022. The IMF approved a four-year Extended Fund Facility (EFF) worth $15.5 billion in Mar 2023 to support Ukraine's economy.
Egypt owes the IMF SDR 6.9 billion ($9 billion) due to high debt and fiscal deficits. The IMF approved an $11.9 billion EFF for Egypt in 2016 to address economic challenges. In Mar 2025, the IMF disbursed $1.2 billion as part of an $8 billion economic reform program.
Relative to GDP, countries with the highest IMF debt include Suriname (13%), Central African Republic (9.4%), Argentina (8.3%), Barbados (7.4%), and The Gambia (6.95%).
Based on reporting by Al Jazeera.
