Nigeria Out, List Of Countries Indebted To IMF

Nigeria has cleared its $1.6 billion debt to the International Monetary Fund (IMF) and is no longer listed among the fund’s debtor countries.

Naija News reports that this development places Nigeria alongside economic powerhouses like Switzerland, Singapore, China, and New Zealand on the IMF’s non-debtor list.

According to a report titled “Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025”, released on the IMF’s official website, 91 developing and least developed countries still owe a collective $117.8 billion, but Nigeria is no longer among them.

The repayment journey saw steady progress:

• $1.61 billion owed as of July 2023
• $1.37 billion by January 2024
• $933.03 million by July 2024
• $472.06 million by January 2025
• $0.00 in May 2025

IMF loans are typically sought to stabilize currencies, implement structural reforms, and address balance of payments issues. Nigeria’s exit from the debtor list signals a significant step toward economic independence and improved fiscal health.

Data analytics firm StatiSense also confirmed the development, stating on its official X handle that Nigeria’s status had officially changed as of this month.

This accomplishment comes amid broader efforts by the Nigerian government to stabilize the economy and reduce external borrowing.

The top 10 countries most indebted to the IMF include:

· Argentina

· Egypt

· Ukraine

· Pakistan

· Ecuador

· Colombia

· Angola

· Kenya

· Ghana

· Ivory Coast

African indebted countries are as follows:

· Tanzania

· Cameroon

· Chad

· Comoros

· Equatorial Guinea

· Guinea

· Ethiopia

· Botswana

· Democratic Republic of the Congo