IMF: The total amount of loans to Africa reaches 690 billion US dollars, more credit is still needed.

African countries' demand for financing from the International Monetary Fund is expected to remain high as debt burdens continue to increase and cheaper options are still scarce, despite growing backlash against IMF's strict austerity measures. An IMF spokesperson stated that since 2020, the Washington-based bank has provided nearly $69 billion in financing to the region and is expected to continue providing credit. They said, "Driven by ongoing shocks and rising debt pressures, we see a sustained demand from African countries for IMF support, including new programs, extensions, and expansions."