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2021: Total External Public Debt In West Africa By Country- Check That Of Ghana

As of 2021, the total external public debt in Africa reached 726.55 billion U.S. dollars. Compared to the previous year, the amount of foreign public debt increased from 696.69 billion U.S. dollars.

Out of the above, breaking down the total external public debt in West Africa from the entire Africa amounted to around 164 billion U.S. dollars. Nigeria and Ghana recorded the highest levels of debt in the region, at approximately 79.54 billion U.S. dollars and 21.91 billion U.S. dollars, respectively. 

External debt is the portion of a country's debt that is borrowed from foreign lenders through commercial banks, governments, or international financial institutions. If a country cannot repay its external debt, it faces a debt crisis. If a nation fails to repay its external debt, it is said to be in sovereign default.

It's in the light of this that this article seeks to let the public know the list of countries in West Africa and their external debt as at 2021. The data was collected from a UN approved website called statistical.com and Wikipedia to compile and analyzed the information below.

1. Nigeria: The external public debt of the Giants of Africa stands at a whooping 79,536 billion US dollars. It is the country with most debt. West Africa.

2. Ghana: The Black stars of Ghana is the second most indebted country in West Africa in terms of external debt. It owes 21,907 billion US dollars as at 2021. 

3. Cote D'Ivoire : They owe a total of 19,521 billion US dollars as external debt. They are third on this list.

5. Senegal: They owes a total of 13,665 billion US dollars. They are placed 4th on this list.

6. Mali: Dakar's Mali follows with 5,128 billion US dollars.

7. Guinea: They are placed seventh with a total external debt of 4,859 billion US dollars as at this year.

8. Niger: They closely follows Guinea with 4,220 billion US dollars as external debt.

9. Benin: They are ninth with a total of 3,814 billion US dollars external debt.

10. Burkina Faso: With 3,732 billion US dollars, they are the 10th indebted country in West Africa in terms of external debt.

11. Cape Verde (1,951 billion US dollars)

12. Sierra Leone (1,826 billion US dollars)

13. Togo (1,426 billion US dollars)

14. Liberia ( 1,360 billion US dollars)

15. Gambia (823 billion US dollars)

16. Guinea-Bissau: They are the least indebted country in West Africa in terms of external debt. They owe just 382 billon US dollars.

Sources: https://www.statista.com/statistics/1242969/total-external-public-debt-in-west-africa-by-country/

https://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt

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Africa Ghana Nigeria U.S. West Africa

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