For African countries, owing very little to the International Monetary Fund (IMF) might mean more than just a number on a debt table.
It can provide governments with additional financial flexibility while reducing their susceptibility to the constraints that frequently accompany IMF-supported programs.
The issue is growing more important as some African economies continue to rely on IMF finance. Egypt, one of the Fund's major African borrowers, got around $1.8 billion in extra funding after completing its most recent program evaluations in July.
Guinea, however, obtained a staff-level agreement in August on a fresh $439 million IMF facility.
Against this environment, nations with relatively modest IMF credit outstanding may have a significant advantage.
