Madagascar Debt Service
Total debt service as % of exports DT.TDS.DECT.EX.ZS
Madagascar's debt service was 7.19% in 2025, ranked 82nd globally. This represents a 0.3% increase from 2024. Data from World Bank, covering 1974–2025.
Overview
Madagascar's debt service stood at 7.19% in 2025, a rise of +0.02% from 2024. Based on recent trends, this figure is projected to reach 7.19% by 2025. Madagascar ranked 82nd globally.
Madagascar’s debt‑service burden has fallen sharply from an all‑time peak of 56.78 percent of export earnings in 1987 to a historic low of 1.45 percent in 2008, reflecting successive debt‑restructuring efforts and a modest expansion of fiscal capacity. Over the 52‑year series, the indicator has averaged well above the regional median, yet the latest World Bank estimate for 2025 shows a modest rise to 7.19 percent, placing Madagascar at rank 82 globally and just above Sierra Leone’s 7.18 percent and slightly below Guatemala’s 7.34 percent. The upward movement since the 2008 trough coincides with higher external borrowing to finance infrastructure and social programs, while export growth has been uneven, limiting the denominator in the debt‑service ratio. Continued consolidation of public finances, coupled with stronger export performance and diversified financing sources, will be crucial to prevent a reversal of the recent decline and to sustain a downward trajectory in the coming years.
Data & projection
| Year | Debt Service | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 8.28% | - | - |
| 2026* trend | 7.74% | - | - |
| 2025* trend | 7.19% | - | - |
| 2025 | 7.19% | +0.02% | #82 |
| 2024 | 7.17% | +1.07% | #19 |
| 2023 | 6.10% | +1.54% | #18 |
| 2022 | 4.56% | −0.39% | #19 |
| 2021 | 4.94% | −0.09% | #16 |
| 2020 | 5.03% | +1.98% | #17 |
| 2019 | 3.05% | +0.11% | #13 |
| 2018 | 2.94% | −0.21% | #12 |
| 2017 | 3.15% | −0.44% | #13 |
| 2016 | 3.59% | −0.83% | #14 |
| 2015 | 4.42% | +1.64% | #24 |
| 2014 | 2.77% | +0.50% | #16 |
| 2013 | 2.27% | −0.23% | #17 |
| 2012 | 2.50% | +0.68% | #21 |
| 2011 | 1.82% | −0.97% | #13 |
Detected Pattern
Analysis
Madagascar matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw debt service improve within 24 months. View full analysis →
Frequently Asked Questions
Madagascar's debt service was 7.19% in 2025. Ranked 82nd globally. This represents a 0.3% increase from the previous year.
Madagascar's debt service peaked at 56.78% in 1987.
The lowest debt service in Madagascar was 1.45% in 2008.
Madagascar ranks 82nd globally in debt service as of 2025.
The World Bank indicator code is DT.TDS.DECT.EX.ZS. Data sourced from World Bank.
Madagascar's debt service is projected to reach 7.19% by 2025 based on trend extrapolation.
The debt service of Madagascar in 2025 was 7.19%. This ranks 82nd in the world.
Cite this page
@misc{historysaid_madagascar_debt-service,
title = {Madagascar Debt Service},
url = {https://historysaid.com/madagascar/debt-service/},
publisher = {HistorySaid},
year = {2026}
}