Top 10 Countries With Most Debt To The IMF As Of 2025: Argentina Ukraine, Pakistan And o Others

Top 10 Countries With Most Debt To The IMF: As of May 2025, several countries owe substantial debts to the International Monetary Fund (IMF), reflecting ongoing economic challenges and reliance on international financial assistance. Leading this list is Argentina, with an outstanding debt of approximately $40.9 billion, followed by Ukraine, which owes around $14.6 billion. Pakistan also features prominently, having recently secured a $1 billion disbursement from the IMF as part of its ongoing economic stabilisation efforts. 

This recent IMF loan to Pakistan has drawn international attention, particularly from India, which has expressed concerns over the potential misuse of funds amid escalating tensions between the two nations. Despite these concerns, the IMF proceeded with the disbursement, emphasising the importance of supporting Pakistan's economic reforms. The situation underscores the complex interplay between international financial assistance and geopolitical dynamics, especially in regions experiencing heightened tensions.

Top 10 Countries With The Most Debt To The IMF As Of 2025

Here are the list of top countries that have taken most debt to the International monetart funds as of 2025.

Source: IMF official site

1. Argentina – $40.26 billion

Argentina has the highest debt to the IMF in the world. The country has been struggling with inflation, currency crisis and political instability. To stabilize its economy and control rising prices, it has borrowed heavily from the IMF over the years.

2. Ukraine – $10.8 Billion

Due to the ongoing war with Russia, Ukraine’s economy has suffered major damage. To support reconstruction, military spending and essential services, Ukraine has borrowed billions from the IMF since 2022.

3. Egypt – $8.46 Billion

Egypt faces high inflation, falling currency value, and rising living costs. To keep its economy running and protect the poor, the country took multiple IMF loans for reforms and foreign currency support.

4. Ecuador – $6.37 Billion

Ecuador’s oil-dependent economy was hit by falling oil prices and political unrest. The IMF provided support to help manage debt, control inflation, and implement economic reforms.

5. Pakistan – $6.10 Billion

Amid a severe economic crisis and ongoing tension with India, Pakistan received over $6 billion from the IMF. The funds are aimed at stabilising the rupee, reducing debt, and ensuring basic imports like fuel and food.

6. Kenya – $3.02 Billion

Kenya has been battling high public debt, inflation, and drought-related challenges. IMF loans were taken to reduce fiscal deficits and support economic recovery.

7. Angola – $2.83 Billion

Angola, highly dependent on oil, was affected by global price fluctuations. The IMF stepped in to help diversify its economy, control debt, and improve financial management.

8. Côte d’Ivoire – $2.63 Billion

The West African country has taken IMF loans to boost post-pandemic recovery, manage inflation, and fund development projects.

9. Ghana – $2.46 Billion

Ghana's high debt levels and rising inflation forced it to seek IMF assistance. The loan helps the country stabilize its economy and restructure its debt.

10. Bangladesh – $1.98 Billion

Bangladesh turned to the IMF due to falling forex reserves and rising import costs. The loan supports energy imports and helps control inflation.

11. Sri Lanka – $1.50 Billion

After facing a severe financial collapse in 2022, Sri Lanka received IMF aid to recover from bankruptcy, pay off debt, and restore public services.

12. Colombia – $1.40 Billion

Colombia borrowed from the IMF to support social programs and boost recovery after the pandemic caused economic slowdown and increased unemployment.

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