Luis Gerardo Castillo’s Post

10 countries MOST in DEBT to the IMF: In AFRICA, Egypt is the most indebted: The ten countries most indebted to the International Monetary Fund (IMF). Established in 1944, the IMF supports countries' economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities. Methodology We compiled this ranking using the #InternationalMonetaryFund's (IMF) data on Total IMF Outstanding Credit. We selected the latest #debt data for each country, accurate as of April 29, 2024. Key takeaways In AFRICA, - Egypt’s debt to the IMF is equivalent to 3.1% of the country's GDP. - Five of the ten most indebted countries are in Africa, while three are in #SouthAmerica. - Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate difficulties with payment balance. AFRICA, take note! Accelerating the implementation of the #AfCFTA must be prioritized #Egypt 🇪🇬, #Angola 🇦🇴, #Kenya 🇰🇪, #Ghana 🇬🇭 and #IvoryCoast 🇨🇮 are #AfCFTA member countries #UnitedUnderAfCFTA #AfricaYesWeCAN #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #AfCFTA2024 #Africa2024

Did you know? Botswana 🇧🇼, Eritrea 🇪🇷 and Libya 🇱🇾 have NEVER borrowed from the IMF while the TOP 5 borrowers from AFRICA - #Egypt 🇪🇬, #CôtedIvoire 🇨🇮, #Ghana 🇬🇭, #Angola 🇦🇴 and #Kenya 🇰🇪 owe the #InternationalMonetaryFund (IMF) about $32 Billion, representing about 40% of TOTAL Africa's IMF #debts. Here’s what to know: In 2024, the IMF turned 80 years old. Over its lifetime, African countries have sought IMF loans on numerous occasions - often with backlash from #civilsociety or #parliamentarians. Although the IMF is known as a “lender of last resort”, according to its own statements it is much more. It works to achieve sustainable growth and prosperity by supporting economic policies that promote financial stability and monetary cooperation. How has this worked for AFRICA so far? Although the IMF was created 80 years ago, it actually started full operations in 1952, and the FIRST African country to access IMF resources was #SouthAfrica 🇿🇦 six years later in 1958, which was at that time a British protectorate and under apartheid rule. Since then, as independent sovereign nations and in the absence of an #AfricanMonetaryFund (which is still to be operationalised), African countries have turned regularly to the IMF for resources to navigate global shocks. Including SDR credits, 48 African countries collectively owe USD 42.2 billion to the IMF. This is about one-third of the IMF’s total outstanding credit implying that the #Africancontinent is a major borrower of the IMF. Map: See how much your country has borrowed so far. IMF website: https://lnkd.in/dCXUpUDr AFRICA, we NEED to do MORE #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #UnitedUnderAfCFTA #AfCFTA2024 #Africa2024 #AfricaYesWeCAN

Did you know? Botswana 🇧🇼, Eritrea 🇪🇷 and Libya 🇱🇾 have NEVER borrowed from the IMF while the TOP 5 borrowers from AFRICA - #Egypt 🇪🇬, #CôtedIvoire 🇨🇮, #Ghana 🇬🇭, #Angola 🇦🇴 and #Kenya 🇰🇪 owe the #InternationalMonetaryFund (IMF) about $32 Billion, representing about 40% of TOTAL Africa's IMF #debts. Here’s what to know: In 2024, the IMF turned 80 years old. Over its lifetime, African countries have sought IMF loans on numerous occasions - often with backlash from #civilsociety or #parliamentarians. Although the IMF is known as a “lender of last resort”, according to its own statements it is much more. It works to achieve sustainable growth and prosperity by supporting economic policies that promote financial stability and monetary cooperation. How has this worked for AFRICA so far? Although the IMF was created 80 years ago, it actually started full operations in 1952, and the FIRST African country to access IMF resources was #SouthAfrica 🇿🇦 six years later in 1958, which was at that time a British protectorate and under apartheid rule. Since then, as independent sovereign nations and in the absence of an #AfricanMonetaryFund (which is still to be operationalised), African countries have turned regularly to the IMF for resources to navigate global shocks. Including SDR credits, 48 African countries collectively owe USD 42.2 billion to the IMF. This is about one-third of the IMF’s total outstanding credit implying that the #Africancontinent is a major borrower of the IMF. Map: See how much your country has borrowed so far. IMF website: https://lnkd.in/dCXUpUDr AFRICA, we NEED to do MORE #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #UnitedUnderAfCFTA #AfCFTA2024 #Africa2024 #AfricaYesWeCAN

Did you know? Botswana 🇧🇼, Eritrea 🇪🇷 and Libya 🇱🇾 have NEVER borrowed from the IMF while the TOP 5 borrowers from AFRICA - #Egypt 🇪🇬, #CôtedIvoire 🇨🇮, #Ghana 🇬🇭, #Angola 🇦🇴 and #Kenya 🇰🇪 owe the #InternationalMonetaryFund (IMF) about $32 Billion, representing about 40% of TOTAL Africa's IMF #debts. Here’s what to know: In 2024, the IMF turned 80 years old. Over its lifetime, African countries have sought IMF loans on numerous occasions - often with backlash from #civilsociety or #parliamentarians. Although the IMF is known as a “lender of last resort”, according to its own statements it is much more. It works to achieve sustainable growth and prosperity by supporting economic policies that promote financial stability and monetary cooperation. How has this worked for AFRICA so far? Although the IMF was created 80 years ago, it actually started full operations in 1952, and the FIRST African country to access IMF resources was #SouthAfrica 🇿🇦 six years later in 1958, which was at that time a British protectorate and under apartheid rule. Since then, as independent sovereign nations and in the absence of an #AfricanMonetaryFund (which is still to be operationalised), African countries have turned regularly to the IMF for resources to navigate global shocks. Including SDR credits, 48 African countries collectively owe USD 42.2 billion to the IMF. This is about one-third of the IMF’s total outstanding credit implying that the #Africancontinent is a major borrower of the IMF. Map: See how much your country has borrowed so far. IMF website: https://lnkd.in/dCXUpUDr AFRICA, we NEED to do MORE #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #UnitedUnderAfCFTA #AfCFTA2024 #Africa2024 #AfricaYesWeCAN

Did you know? Botswana 🇧🇼, Eritrea 🇪🇷 and Libya 🇱🇾 have NEVER borrowed from the IMF while the TOP 5 borrowers from AFRICA - #Egypt 🇪🇬, #CôtedIvoire 🇨🇮, #Ghana 🇬🇭, #Angola 🇦🇴 and #Kenya 🇰🇪 owe the #InternationalMonetaryFund (IMF) about $32 Billion, representing about 40% of TOTAL Africa's IMF #debts. Here’s what to know: In 2024, the IMF turned 80 years old. Over its lifetime, African countries have sought IMF loans on numerous occasions - often with backlash from #civilsociety or #parliamentarians. Although the IMF is known as a “lender of last resort”, according to its own statements it is much more. It works to achieve sustainable growth and prosperity by supporting economic policies that promote financial stability and monetary cooperation. How has this worked for AFRICA so far? Although the IMF was created 80 years ago, it actually started full operations in 1952, and the FIRST African country to access IMF resources was #SouthAfrica 🇿🇦 six years later in 1958, which was at that time a British protectorate and under apartheid rule. Since then, as independent sovereign nations and in the absence of an #AfricanMonetaryFund (which is still to be operationalised), African countries have turned regularly to the IMF for resources to navigate global shocks. Including SDR credits, 48 African countries collectively owe USD 42.2 billion to the IMF. This is about one-third of the IMF’s total outstanding credit implying that the #Africancontinent is a major borrower of the IMF. Map: See how much your country has borrowed so far. IMF website: https://lnkd.in/dCXUpUDr AFRICA, we NEED to do MORE #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #UnitedUnderAfCFTA #AfCFTA2024 #Africa2024 #AfricaYesWeCAN

Did you know? Botswana 🇧🇼, Eritrea 🇪🇷 and Libya 🇱🇾 have NEVER borrowed from the IMF while the TOP 5 borrowers from AFRICA - #Egypt 🇪🇬, #CôtedIvoire 🇨🇮, #Ghana 🇬🇭, #Angola 🇦🇴 and #Kenya 🇰🇪 owe the #InternationalMonetaryFund (IMF) about $32 Billion, representing about 40% of TOTAL Africa's IMF #debts. Here’s what to know: In 2024, the IMF turned 80 years old. Over its lifetime, African countries have sought IMF loans on numerous occasions - often with backlash from #civilsociety or #parliamentarians. Although the IMF is known as a “lender of last resort”, according to its own statements it is much more. It works to achieve sustainable growth and prosperity by supporting economic policies that promote financial stability and monetary cooperation. How has this worked for AFRICA so far? Although the IMF was created 80 years ago, it actually started full operations in 1952, and the FIRST African country to access IMF resources was #SouthAfrica 🇿🇦 six years later in 1958, which was at that time a British protectorate and under apartheid rule. Since then, as independent sovereign nations and in the absence of an #AfricanMonetaryFund (which is still to be operationalised), African countries have turned regularly to the IMF for resources to navigate global shocks. Including SDR credits, 48 African countries collectively owe USD 42.2 billion to the IMF. This is about one-third of the IMF’s total outstanding credit implying that the #Africancontinent is a major borrower of the IMF. Map: See how much your country has borrowed so far. IMF website: https://lnkd.in/dCXUpUDr AFRICA, we NEED to do MORE #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #UnitedUnderAfCFTA #AfCFTA2024 #Africa2024 #AfricaYesWeCAN

Did you know? Botswana 🇧🇼, Eritrea 🇪🇷 and Libya 🇱🇾 have NEVER borrowed from the IMF while the TOP 5 borrowers from AFRICA - #Egypt 🇪🇬, #CôtedIvoire 🇨🇮, #Ghana 🇬🇭, #Angola 🇦🇴 and #Kenya 🇰🇪 owe the #InternationalMonetaryFund (IMF) about $32 Billion, representing about 40% of TOTAL Africa's IMF #debts. Here’s what to know: In 2024, the IMF turned 80 years old. Over its lifetime, African countries have sought IMF loans on numerous occasions - often with backlash from #civilsociety or #parliamentarians. Although the IMF is known as a “lender of last resort”, according to its own statements it is much more. It works to achieve sustainable growth and prosperity by supporting economic policies that promote financial stability and monetary cooperation. How has this worked for AFRICA so far? Although the IMF was created 80 years ago, it actually started full operations in 1952, and the FIRST African country to access IMF resources was #SouthAfrica 🇿🇦 six years later in 1958, which was at that time a British protectorate and under apartheid rule. Since then, as independent sovereign nations and in the absence of an #AfricanMonetaryFund (which is still to be operationalised), African countries have turned regularly to the IMF for resources to navigate global shocks. Including SDR credits, 48 African countries collectively owe USD 42.2 billion to the IMF. This is about one-third of the IMF’s total outstanding credit implying that the #Africancontinent is a major borrower of the IMF. Map: See how much your country has borrowed so far. IMF website: https://lnkd.in/dCXUpUDr AFRICA, we NEED to do MORE #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #UnitedUnderAfCFTA #AfCFTA2024 #Africa2024 #AfricaYesWeCAN

Did you know? Botswana 🇧🇼, Eritrea 🇪🇷 and Libya 🇱🇾 have NEVER borrowed from the IMF while the TOP 5 borrowers from AFRICA - #Egypt 🇪🇬, #CôtedIvoire 🇨🇮, #Ghana 🇬🇭, #Angola 🇦🇴 and #Kenya 🇰🇪 owe the #InternationalMonetaryFund (IMF) about $32 Billion, representing about 40% of TOTAL Africa's IMF #debts. Here’s what to know: In 2024, the IMF turned 80 years old. Over its lifetime, African countries have sought IMF loans on numerous occasions - often with backlash from #civilsociety or #parliamentarians. Although the IMF is known as a “lender of last resort”, according to its own statements it is much more. It works to achieve sustainable growth and prosperity by supporting economic policies that promote financial stability and monetary cooperation. How has this worked for AFRICA so far? Although the IMF was created 80 years ago, it actually started full operations in 1952, and the FIRST African country to access IMF resources was #SouthAfrica 🇿🇦 six years later in 1958, which was at that time a British protectorate and under apartheid rule. Since then, as independent sovereign nations and in the absence of an #AfricanMonetaryFund (which is still to be operationalised), African countries have turned regularly to the IMF for resources to navigate global shocks. Including SDR credits, 48 African countries collectively owe USD 42.2 billion to the IMF. This is about one-third of the IMF’s total outstanding credit implying that the #Africancontinent is a major borrower of the IMF. Map: See how much your country has borrowed so far. IMF website: https://lnkd.in/dCXUpUDr AFRICA, we NEED to do MORE #TransformingAfrica #TheAfricaWeWant #AfCFTA #BrandAfrica #AU #GDP #Investment #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #AUC #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Invest #Tariffs #TheAfCFTAEffect #Trade #AI #AfricaRising #FDI #IntraAfricanTrade #Agenda2063 #Partnerships #AfCFTATV #WB #BuildBackBetter #InvestInAfrica #AfricanUnity #IMF #WTO #AfDB #TradeNotAid #AfCFTATrading #TravelToAfrica #CFTA #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Infrastructure #Tourism #VisitAfrica #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #AfricanSolutionsToAfricanProblems #Growth #BetterAfricaBetterWorld #StrongerTogether #Afreximbank #UnitedUnderAfCFTA #AfCFTA2024 #Africa2024 #AfricaYesWeCAN