CLAIM: Kenya Is The Second Largest IMF Debtor In Africa
On May 25, 2026 an X user @Eddie_Mugoh made a claim that Kenya holds the second largest International Monetary Fund, IMF, loan in Africa, surpassed only by Egypt. The post had a meme showing a dog holding a bible and a cross, it was captioned, “Kenya has the second largest IMF loan in Africa after Egypt.”
When this report was published, the claim had about 4,210 views and over 190 replies, reposts, quotes, likes, and bookmarks.
VERIFICATION
According to data from Statista, Egypt holds the largest IMF debt in Africa, with a total outstanding credit of 7,245,182,524 Special Drawing Rights (SDR). This makes the North African nation the continent’s biggest debtor to the IMF. The figures, based on IMF credit outstanding data, place Egypt ahead of countries such as Côte d’Ivoire and Kenya in terms of total IMF obligations.
In June 2025, a news report revealed that Kenya is the second largest debtor to the IMF in Africa, with outstanding credit estimated at about $3.02 billion. At the time, the country stood behind Egypt in terms of total IMF obligations. However, recent data indicates that Kenya has since dropped to third position among Africa’s largest IMF borrowers. Current IMF outstanding credit figures show that Côte d’Ivoire has overtaken Kenya, while Egypt still maintains the top position as the continent’s largest IMF debtor. Egypt’s rising debt profile has been linked to ongoing economic reforms, foreign currency shortages, inflationary pressures, and efforts to stabilise its economy through IMF-backed support programmes.
CONCLUSION
The claim that Kenya holds the second largest IMF loan in Africa, surpassed only by Egypt, is MISLEADING. Kenya was previously the second-largest IMF borrower in Africa after Egypt, but more recent IMF data shows Kenya is now third, behind Côte d’Ivoire.
