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International Monetary Fund: the nations that are currently most in debt

International Monetary Fund: the nations that are currently most in debt

According to information from International Monetary Fund Regarding the total credit outstanding of countries with the IMF, five of the ten most indebted countries are in Africa, while three are in South America.

The data also show that Argentina leads the list as the country with the highest debt, which is equivalent to 5.3% of the national Gross Domestic Product (GDP) and exceeds US$32,000 million. The history of the country’s debt dates back to 1890, when it defaulted after going into debt to modernize the capital, Buenos Aires.

According to the study carried out by La Rep├║blica Colombia. In second place is Egypt, with a debt equivalent to 3.1% of its Gross Domestic Product (GDP). In third place is Ukraine, with a debt of US$ 9,000 million with the IMF. It is notable that Ukraine is the only European nation among the ten most indebted countries, due to its dependence on international support amid the conflict with Russia.

In Latin America, two additional countries are among the ten most indebted to the Issuer. These countries are Colombia and Ecuador, with debts of US$ 3,000 million. This figure represents 4.9% of GDP for Ecuador, while for Colombia it is equivalent to 0.8% of its GDP.

Other countries included in the list are Angola, Kenya, Ghana and Ivory Coast, with debts ranging between US$3 billion and US$2 billion. In addition, Pakistan is added, which has a debt of US$ 7,000 million with the IMF.

It is important to note that nearly 100 countries have debts with the IMF, adding up to a general total of US$111 billion. On the other hand, the ten countries mentioned in this list constitute approximately 69% of these debts, explained the study by L.R..

Source: Gestion

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