News
2024: Top 10 African Countries With The Highest Debt To IMF
Published
6 months agoon
By
Editor
As several African nations continue to grapple with economic instability, many have turned to the International Monetary Fund (IMF) for financial assistance, resulting in significant debt obligations.
These loans, while intended to stabilize economies, often come with stringent conditions that can hinder long-term development.
The latest data, updated on December 23, 2024, reveals the African countries with the highest outstanding IMF credit.
Egypt tops the list with a staggering $9.3 billion, far exceeding other nations. Kenya follows with $3.02 billion, while Angola is close behind with $2.9 billion. Côte d’Ivoire has climbed to the fourth position with $2.75 billion, overtaking Ghana, which now ranks fifth with $2.51 billion.
Other nations on the list include the Democratic Republic of Congo (DRC) with $1.6 billion, Ethiopia with $1.31 billion, and South Africa with $1.14 billion.
READ ALSO: Africa Gains Third Seat On IMF Board
Cameroon ranks ninth with $1.13 billion, and Morocco joins the top 10 with $1.1 billion, replacing Senegal, which has dropped off the list, information on Business Insider Africa revealed.
The reliance on IMF loans has sparked concerns about the long-term implications for these economies.
High debt levels often force governments to redirect significant resources from development projects to debt repayment, limiting their ability to invest in critical areas such as infrastructure, education, and healthcare.
Additionally, the restrictive economic reforms tied to these loans, known as Structural Adjustment Programs (SAPs), have been criticized for exacerbating socioeconomic inequalities.
READ ALSO: VIDEO: Reject IMF, World Bank Offers – Falana Cautions FG
As African nations remain vulnerable to external shocks, such as fluctuations in commodity prices and global financial crises, the growing debt burden underscores the need for more sustainable financial solutions.
The IMF’s role in the region continues to be a subject of intense debate, with questions lingering over whether its assistance helps or hinders long-term economic stability.
See list below:
1. Egypt
2. Kenya
3. Angola
4. Cote d’Ivoire
5. Ghana
6. DRC
7. Ethiopia
8. South Africa
9. Cameroon
10. Morocco
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News
PHOTOS: Peace Restored In Delta Community As Council Boss, Takeme, Wades In
Published
2 hours agoon
July 1, 2025By
Editor
Tuomo, a riverine community in Delta State’s Burutu Local Government Area, is experiencing renewed calm following decisive intervention by local authorities to settle a heated leadership crisis.
On Monday, Burutu LGA Chairman, Dr. Julius Takeme, led a peace delegation to the area, spearheading reconciliation discussions and reinforcing the government’s commitment to long-term stability.
Dr. Takeme highlighted his administration’s resolve to implement Governor Sheriff Oborevwori’s broader peace and security strategy for Burutu LGA.

Dr. Julius Takeme, Chairman, Burutu LG during the meeting on Monday, 30 June, 2025
Addressing the main source of discord—the controversial selection process for a new Amananawei (traditional ruler)—he emphasized the need for transparent and lawful resolution to avoid further division within the community.
READ ALSO: Clark’s Burial: Preparation In Top Gear As Burutu LG Boss Inspects Venue
“The council has zero tolerance for lawlessness or abuse of power,” Dr. Takeme declared, warning against intimidation, violence, or any form of extrajudicial detention.

A cross section of community people during the peace/reconciliation meeting on Monday, 30 June,2025.
In direct remarks to Tuomo Community Chairman, Mr. Edonyaibo Morentei Warebi and the newly confirmed Amananawei, Chief Arebebe Ebiyemi, he stressed the responsibility of leadership to uphold legality and promote inclusiveness.
“Leadership should be anchored on the rule of law, not on threats or coercion,” he told them, urging both leaders to unite the community and fulfill their electoral commitments. He further warned against any mishandling of the reconciliation process, assuring residents that the administration remained fully invested in protecting lives and fostering peace.
The chairman was accompanied by a high-level delegation that included the Nigeria Police Area Commander for Burutu, ACP Redengha Timpa, whose on-the-ground presence was vital in maintaining order and preventing renewed conflict. Senior officials from the local government also joined the mission, demonstrating a coordinated approach to crisis management.

A cross section of community women during the peace/reconciliation meeting on Monday, 30 June,2025.
READ ALSO: Delta: Burutu LG Boss, Takeme, Inaugurates Peace, Advocacy Committee
During his address, Dr. Takeme commended the police for their professionalism and praised ACP Timpa’s continuous engagement as a key factor in defusing tensions and restoring a sense of security among residents.
In response, Chief Arebebe Ebiyemi delivered a vote of thanks, acknowledging the chairman’s consistent intervention and pledging to work tirelessly for peace and unity. Community Chairman Mr. Warebi promised a leadership style grounded in inclusiveness and dialogue, describing this period as an opportunity to rebuild community trust and heal divisions.
Chief Ebiyemi further assured the council of his readiness to collaborate with all stakeholders in promoting a more harmonious and united Tuomo.

The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, popularly known as petrol, from N880 to N840 per litre.
Spokesman for the Dangote Group, Anthony Chiejina, confirmed the price adjustment to The PUNCH on Monday night, saying the new rate took effect on June 30.
“PMS price has been reduced from N880 to N840 per litre effective 30th June,” Chiejina said.
READ ALSO: BREAKING: Again, Dangote Refinery Cuts Petrol Price
Recall that the Dangote refinery hiked the price of petrol to N880 as tension escalated during the 12-day crisis between Israel and Iran, raising the price of crude oil to almost $80 per barrel.
The PUNCH earlier reported that marketers anticipated that there would be a new price regime from Monday.
Dangote’s partners like MRS, Heyden and AP are expected to adjust their pump prices soon.
News
Ondo Confirms Petitions Seeking Coroner’s Inquest Into Akeredolu’s Death
Published
3 hours agoon
June 30, 2025By
Editor
Ondo State Attorney General and Commissioner for Justice, Dr. Olukayode Ajulo, on Monday confirmed receipt of petitions demanding a formal coroner’s inquest into the death of former Governor Oluwarotimi Akeredolu.
In a statement shared with The PUNCH, Ajulo declared that the public has every right under the Coroners Law of Ondo State to demand clarity in cases where foul play is suspected or questions linger.
“It is not out of place for citizens to demand its invocation when there are legitimate concerns.
“The Attorney General is duty-bound to act in accordance with the law once such concerns are raised by members of the public,” he stated.
READ ALSO:
According to Ajulo, the Ministry of Justice has received multiple petitions, including from professional bodies and residents of the late governor’s hometown, urging his office to investigate what they described as troubling inconsistencies surrounding Akeredolu’s death.
Ajulo disclosed, “We have received petitions from groups both within and outside the state.
“Let me be clear: due process will be followed. The law is there to serve the people and ensure that truth and justice prevail.”
He noted that while emotions are running high, no individual will be presumed guilty, and neither will the process be derailed by sentiment or political interference.
“If invitations or arrests need to be made, the process will not deviate from doing the needful,” he declared.
Ajulo clarified that decisions such as inspecting the governor’s remains or summoning individuals fall squarely under the discretion of the Coroner Judge.
“The law will be allowed to take its course,” he emphasized.
Calling for calm and restraint, the Attorney General urged all stakeholders to approach the matter with a “deep sense of responsibility” to the legacy of the late governor and the peace of the state.
“We must approach this issue with civility, dignity, and a deep sense of responsibility to the legacy of the late Governor and the peace of the state,” he said.
Reaffirming the stance of the state’s leadership under Governor Lucky Aiyedatiwa, Ajulo wrote, “No one is above the law, and no one is beneath its protection. “Where the law provides a remedy, the government of Governor Aiyedatiwa will not be found wanting.”
Until his death, Akeredolu was a two-term Governor of Ondo State and former President of the Nigerian Bar Association.
Reports from the state government stated that he died on December 27, 2023, at 67, after a prolonged battle with prostate cancer.
- PHOTOS: Peace Restored In Delta Community As Council Boss, Takeme, Wades In
- JUST IN: Dangote Refinery Slashes Petrol Price
- Ondo Confirms Petitions Seeking Coroner’s Inquest Into Akeredolu’s Death
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