Tunisia ranks 10th among the most indebted African countries to foreign creditors, according to the World Bank.
As of the end of 2024, its external debt stock reached $40.4 billion, while its debt service (principal and interest) amounts to $3.8 billion for the year.
The external debt is predominantly composed of multilateral loans, which account for 63% of the total.
These funds primarily come from international institutions: 20% from the World Bank (IBRD), 11% from the African Development Bank (AfDB), and the remainder, 12%, via other multilateral organizations.
Bilateral debts, which represent 25% of the total, are contracted directly with partner states. Germany holds 5%, Japan and France 4% each, while 12% is distributed among other countries.
Finally, claims from the private sector amount to 12%, including commercial loans and bonds issued on international financial markets.
The stock of global external debt, excluding countries in the Organization for Economic Co-operation and Development (OECD), reached $8.937 trillion, according to the latest annual report published by the World Bank.
In Africa, persistent public deficits and investment policies, particularly in infrastructure, are pushing more and more countries to resort to external borrowing.
As of the end of 2024, the total amount of Africa’s external debt stands at $1.2 trillion.
However, this burden is not evenly distributed. Just ten countries account for over 80% of this stock, amounting to $808 billion.
This proportion represents 13.4% of global external debt, excluding the OECD, and marks a 4% increase compared to the previous year.
Apart from Tunisia, South Africa, Egypt, and Nigeria display the highest levels of external debt on the continent.
South Africa leads Egypt with a debt stock of $156 billion, while Egypt reaches $109 billion and Nigeria also $109 billion.
They are followed by Mozambique ($70 billion), Morocco ($68 billion), Angola ($59 billion), Senegal ($47 billion), Kenya ($43 billion), and Côte d’Ivoire ($40.5 billion).
The three most indebted countries—South Africa, Egypt, and Nigeria, together account for over $53.7 billion in debt service for the year 2024.
It should be noted that external debt refers to the total sums owed to foreign lenders, whether they are states, international institutions, companies, or individuals. It can be short-term (less than one year) or long-term and may be secured or unsecured.
