Zambia's massive national debt, reaching 129% of GDP in 2020, was aggravated by high energy and food import costs, foreign loans, and a pandemic-driven financial crisis.
Ghana's national debt, particularly after suspending payments in December 2022, required complex negotiations with creditors that culminated in the largest debt relief deal in Africa's history.
Countries like Chad, Ethiopia, and Kenya are also negotiating with international financial institutions, indicating a broader trend of financial distress across the continent.
The IMF’s aid often comes with conditions, primarily through structural adjustment programs, which impose significant social costs on the countries that receive support.
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