Most countries are still seen to be dependent on the International Monetary Fund (IMF) for financial assistance, even though the global economy is beginning to recover after the COVID-19 pandemic and the global geopolitical crisis.
The IMF is an international organization comprised of 190 countries.
This organization's role is to help member countries facing economic crises through emergency loans, supporting currency stability, reforming economic structures, and restoring investor confidence.
According to a CNBC Indonesia report, the latest data as of the end of January 2026 shows that the amount of IMF credit that has not yet been settled is around $165 billion.
Here are the 10 countries with the highest IMF debt in 2026:-
1. Argentina
Argentina remains in the top position as a country with the largest IMF debt in 2026.
The South American country is burdened with a debt burden of around $57.74 billion, far surpassing other countries.
This statistic proves Argentina's dependence on IMF support funds in recent years.
2. Ukraine
In second place is Ukraine with a total debt of around $13.93 billion. The ongoing conflict with Russia since February 2022 has put a lot of pressure on the country's economy.
This is also driven by a decline in government revenues and increased public spending requirements.
3. Pakistan
Pakistan is in third place with $10.17 billion. This position reflects the country's ongoing challenges in managing its current account deficit, low foreign exchange reserves and large external debt burden.
4. Ecuador
This South American country recorded a debt of $9.95 billion. Ecuador faces significant fiscal pressures including rising global financing costs and the need to maintain currency stability and domestic subsidies.
5. Egypt
Egypt's total debt burden is estimated at around $9 billion. The country is facing severe fiscal pressures stemming from rising global financing costs and demands to maintain currency stability and domestic subsidies.
6. Ivory Coast
Ivory Coast is in sixth place after recording a total debt of $5.00 billion.
Despite its growing economy, the country still needs IMF support to strengthen its fiscal structure and increase its economic resilience to external shocks.
7. Kenya
Kenya has a total debt of $4.06 billion. Like most developing countries, Kenya is struggling with high interest payment costs.
8. Bangladesh
Bangladesh is among the Asian countries that rely on IMF financing with a total debt of $3.98 billion to support its foreign exchange reserves.
9. Ghana
In ninth place is Ghana with $3.92 billion. Ghana is in the process of restructuring its debt to restore macroeconomic stability.
10. Angola
Angola completes the list with $3.45 billion. As an oil-producing country, Angola is very affected by the volatility of global commodity prices that affects the country's revenue.
In fact, these statistics reflect the economic pressures of several countries that have not yet fully recovered.
This dependence on external loans creates a debt cycle that ultimately burdens the people through inflationary pressures and the government's increasingly narrow fiscal space.
