8) Tanzania – $11,180,000,000
Tanzania’s 2013 Global Hunger Index was worse than any other country in the EAC except Burundi. Even though Tanzania is a poor country, it weathered the Great Recession (which began in 2008) relatively well. The nation recorded a government debt to GDP of 39.9 percent in 2013. This $11.1 billion debt was calculated in December 2012.
7) Ghana – $11,230,000,000
Ghana is an emerging market. Ghana leadership is working towards making it first African nation to become a developed country between 2020 and 2029. The stock exchange of Ghana is the fifth largest in Africa. Ghana’s public stock as a percentage of GDP as of September 18 2014 stood at 60.8 percent. In December 2012 Ghana’s external debt was estimated at $11.2 billion.
6) Angola – $19,650,000,000
Even though Angola has vast mineral and petroleum reserves, majority of its wealth is with a few people. The country recorded a government debt to GDP of 31 percent in 2014. Angola’s external debt of $19.6 billion was last calculated in 2012.
5) Tunisia – $24,490,000,000
Tunisia is an export-oriented nation. It ranks first in Africa for economic competitiveness. When it comes to HDI, Tunisia ranks fifth in Africa. The nation announced in January that it would issue $1.75 billion of dollar denominated bonds and Islamic sukuks this year as it seeks funds to boost economic growth. The estimated debt of $24.4 billion was last calculated on December 31, 2012.