Top 10 African countries with the largest government debts mid-2024

By mid-2024, several African nations are grappling with high government debt relative to their GDP, as highlighted in the World Bank's Africa Pulse report.

Eritrea leads with a debt-to-GDP ratio of 210.6%, followed by Sudan (146.5%), and Zambia (107.5%). Cabo Verde (107.1%), Mozambique (97.5%), Congo (94.7%), Zimbabwe (87.2%), Malawi (85.4%), Ghana (82.4%), and Mauritius (79.1%) also face significant debt burdens.

High debt-to-GDP ratios make countries riskier for investors, raising borrowing costs and limiting government spending on essential services such as healthcare and infrastructure.

Read full article