Madagascar External Debt
Total external debt stocks DT.DOD.DECT.CD
Madagascar's external debt was $7.3B in 2025, ranked 74th globally. This represents a 9.0% increase from 2024. Data from World Bank, covering 1970–2025.
Overview
Madagascar's external debt stood at $7.3B in 2025, a rise of +$600.0M from 2024. Based on recent trends, this figure is projected to reach $7.3B by 2025. Madagascar ranked 74th globally.
Madagascar's external debt has exhibited significant fluctuations over the past five and a half decades, with the latest value standing at 7,253,668,843.43 as of 2025. At its all-time high in 2025, Madagascar's external debt ranked 74th globally, while its all-time low in 1976 reached 189,942,758.00. A comparison with neighboring countries reveals that Algeria holds the highest external debt at 7,793,072,504.30, while Yemen, Republic of has a similar debt burden with a value of 7,172,727,055.50. Since 1970, Madagascar's external debt has increased by over 14,870% from its initial value of 485,146,240.20. This substantial growth indicates a rising reliance on foreign financing, which may pose challenges to the country's economic stability. A decrease in international borrowing or a significant improvement in Madagascar's economic performance could potentially alter this trajectory and lead to a decline in its external debt.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $8.2B | - | - |
| 2026* trend | $7.7B | - | - |
| 2025* trend | $7.3B | - | - |
| 2025 | $7.3B | +$600.0M | #74 |
| 2024 | $6.7B | +$224.2M | #42 |
| 2023 | $6.4B | +$494.1M | #42 |
| 2022 | $5.9B | +$590.6M | #42 |
| 2021 | $5.3B | +$503.4M | #42 |
| 2020 | $4.8B | +$796.6M | #40 |
| 2019 | $4.0B | +$324.7M | #38 |
| 2018 | $3.7B | +$337.2M | #38 |
| 2017 | $3.4B | +$406.1M | #39 |
| 2016 | $3.0B | −$31.1M | #39 |
| 2015 | $3.0B | +$44.3M | #39 |
| 2014 | $3.0B | +$22.9M | #38 |
| 2013 | $2.9B | −$52.9M | #39 |
| 2012 | $3.0B | +$126.1M | #40 |
| 2011 | $2.9B | +$111.4M | #37 |
Detected Pattern
Analysis
Madagascar matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt improve within 24 months. View full analysis →
Frequently Asked Questions
Madagascar's external debt was $7.3B in 2025. Ranked 74th globally. This represents a 9.0% increase from the previous year.
Madagascar's external debt peaked at $7.3B in 2025.
The lowest external debt in Madagascar was $189.9M in 1976.
Madagascar ranks 74th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Madagascar's external debt is projected to reach $7.3B by 2025 based on trend extrapolation.
Madagascar's external debt was approximately 7.25 billion ($7.3B) in 2025.
The external debt of Madagascar in 2025 was $7.3B. This ranks 74th in the world.
Cite this page
@misc{historysaid_madagascar_external-debt,
title = {Madagascar External Debt},
url = {https://historysaid.com/madagascar/external-debt/},
publisher = {HistorySaid},
year = {2026}
}