IFC, private nonguaranteed (NFL, US$) by country
Nonguaranteed long-term debt privately placed from the International Finance Corporation (IFC). Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.
Countries reporting
121
Highest
1.60 billion NFL, US$
India
Lowest
-248.67 million NFL, US$
Argentina
Median
0 NFL, US$
Years covered
55
1970–2024
Data points
8,466
What the numbers show
IFC, private nonguaranteed (NFL, US$) is currently reported for 121 countries. The highest value is 1.60 billion NFL, US$ in India; the lowest is -248.67 million NFL, US$ in Argentina.
The median across all reporting countries is 0 NFL, US$, and the mean is 47.17 million NFL, US$.
The gap between the highest and lowest reporting country is a factor of about 6.
Over the past decade 53 countries rose and 33 fell. The largest increase was in Jordan (up 9,650.2%), and the largest decrease in Zambia (down 1,661.1%).
IFC, private nonguaranteed: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | India | 1.60 billion NFL, US$ | 2024 | up 1,200.0% | volatile |
| 2 | Brazil | 678.60 million NFL, US$ | 2024 | up 1,308.4% | volatile |
| 3 | Egypt | 483.26 million NFL, US$ | 2024 | up 1,324.2% | volatile |
| 4 | Thailand | 344.75 million NFL, US$ | 2024 | up 362.3% | volatile |
| 5 | Philippines | 332.92 million NFL, US$ | 2024 | up 1,068.3% | volatile |
| 6 | China | 319.08 million NFL, US$ | 2024 | down 18.2% | volatile |
| 7 | Ukraine | 259.45 million NFL, US$ | 2024 | up 654.7% | volatile |
| 8 | Morocco | 249.64 million NFL, US$ | 2024 | up 1,148.2% | volatile |
| 9 | Uzbekistan | 244.71 million NFL, US$ | 2024 | up 3,431.9% | volatile |
| 10 | Colombia | 191.58 million NFL, US$ | 2024 | up 524.7% | volatile |
| 11 | Armenia | 163.50 million NFL, US$ | 2024 | up 1,157.3% | volatile |
| 12 | Cote d'Ivoire | 144.44 million NFL, US$ | 2024 | up 126.3% | volatile |
| 13 | Mongolia | 126.08 million NFL, US$ | 2024 | up 1,728.3% | volatile |
| 14 | Peru | 121.92 million NFL, US$ | 2024 | up 929.8% | volatile |
| 15 | Georgia | 120.89 million NFL, US$ | 2024 | up 1,484.7% | volatile |
| 16 | Chad | 116.76 million NFL, US$ | 2024 | up 200.8% | volatile |
| 17 | Bulgaria | 116.56 million NFL, US$ | 2024 | up 414.0% | volatile |
| 18 | Nigeria | 102.35 million NFL, US$ | 2024 | up 689.6% | volatile |
| 19 | Ecuador | 96.60 million NFL, US$ | 2024 | up 364.2% | volatile |
| 20 | Rwanda | 90.62 million NFL, US$ | 2024 | up 706.5% | volatile |
| 21 | Honduras | 64.88 million NFL, US$ | 2024 | up 250.5% | volatile |
| 22 | Tajikistan | 56.29 million NFL, US$ | 2024 | up 38.9% | volatile |
| 23 | Mexico | 47.84 million NFL, US$ | 2024 | down 6.6% | volatile |
| 24 | Benin | 41.44 million NFL, US$ | 2024 | — | volatile |
| 25 | Bangladesh | 38.03 million NFL, US$ | 2024 | down 58.4% | volatile |
| 26 | Madagascar | 36.33 million NFL, US$ | 2024 | — | volatile |
| 27 | Jordan | 35.56 million NFL, US$ | 2024 | up 9,650.2% | volatile |
| 28 | Nepal | 35.17 million NFL, US$ | 2024 | up 469.6% | volatile |
| 29 | Burkina Faso | 33.88 million NFL, US$ | 2024 | — | volatile |
| 30 | Togo | 31.14 million NFL, US$ | 2024 | down 50.7% | volatile |
| 31 | El Salvador | 29.56 million NFL, US$ | 2024 | down 36.5% | volatile |
| 32 | Mali | 28.78 million NFL, US$ | 2024 | up 809.1% | volatile |
| 33 | Serbia | 27.83 million NFL, US$ | 2024 | up 118.0% | volatile |
| 34 | Cameroon | 23.92 million NFL, US$ | 2024 | up 205.8% | volatile |
| 35 | Ethiopia | 23.11 million NFL, US$ | 2024 | down 76.0% | volatile |
| 36 | Democratic Republic of Congo | 22.26 million NFL, US$ | 2024 | up 0.0% | volatile |
| 37 | Senegal | 22.22 million NFL, US$ | 2024 | up 611.9% | volatile |
| 38 | Albania | 22.10 million NFL, US$ | 2024 | up 75.5% | volatile |
| 39 | Niger | 20.96 million NFL, US$ | 2024 | — | volatile |
| 40 | Dominican Republic | 14.83 million NFL, US$ | 2024 | up 419.5% | volatile |
| 41 | Azerbaijan | 14.28 million NFL, US$ | 2024 | up 172.5% | volatile |
| 42 | Botswana | 12.43 million NFL, US$ | 2024 | — | volatile |
| 43 | Kazakhstan | 9.38 million NFL, US$ | 2024 | up 42.7% | volatile |
| 44 | Sierra Leone | 9.00 million NFL, US$ | 2024 | up 646.2% | volatile |
| 45 | Burundi | 7.50 million NFL, US$ | 2024 | up 42.9% | volatile |
| 46 | Moldova | 7.32 million NFL, US$ | 2024 | down 40.3% | volatile |
| 47 | Maldives | 3.20 million NFL, US$ | 2024 | up 127.6% | volatile |
| 48 | Cape Verde | 925,051 NFL, US$ | 2024 | — | volatile |
| 49 | Gabon | 181,799 NFL, US$ | 2024 | down 98.8% | volatile |
| 50 | Afghanistan | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Angola | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Bosnia and Herzegovina | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Belarus | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Belize | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Bolivia | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Bhutan | 0 NFL, US$ | 2024 | up 100.0% | flat |
| 50 | Central African Republic | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Djibouti | 0 NFL, US$ | 2024 | — | flat |
| 50 | Dominica | 0 NFL, US$ | 2024 | — | flat |
| 50 | Algeria | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Eritrea | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Fiji | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Guinea-Bissau | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Grenada | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Guyana | 0 NFL, US$ | 2024 | down 100.0% | volatile |
| 50 | Hungary | 0 NFL, US$ | 2016 | — | flat |
| 50 | Iran | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Jamaica | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Liberia | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Saint Lucia | 0 NFL, US$ | 2024 | — | flat |
| 50 | Lesotho | 0 NFL, US$ | 2024 | — | flat |
| 50 | North Macedonia | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Malaysia | 0 NFL, US$ | 2016 | — | volatile |
| 50 | Papua New Guinea | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Russia | 0 NFL, US$ | 2024 | up 100.0% | volatile |
| 50 | Sudan | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Solomon Islands | 0 NFL, US$ | 2024 | down 100.0% | flat |
| 50 | Somalia | 0 NFL, US$ | 2024 | — | flat |
| 50 | Sao Tome and Principe | 0 NFL, US$ | 2024 | — | flat |
| 50 | Eswatini | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Seychelles | 0 NFL, US$ | 2016 | up 100.0% | volatile |
| 50 | Syria | 0 NFL, US$ | 2024 | — | flat |
| 50 | Turkmenistan | 0 NFL, US$ | 2024 | — | flat |
| 50 | Tonga | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Saint Vincent and the Grenadines | 0 NFL, US$ | 2024 | — | flat |
| 50 | Vanuatu | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Samoa | 0 NFL, US$ | 2024 | — | volatile |
| 50 | Zimbabwe | 0 NFL, US$ | 2024 | — | volatile |
| 89 | Gambia | -79,395 NFL, US$ | 2024 | up 63.2% | volatile |
| 90 | Malawi | -200,000 NFL, US$ | 2024 | down 104.2% | volatile |
| 91 | Haiti | -304,546 NFL, US$ | 2024 | down 101.7% | volatile |
| 92 | East Timor | -750,000 NFL, US$ | 2024 | — | volatile |
| 93 | Congo | -786,306 NFL, US$ | 2024 | — | volatile |
| 94 | Indonesia | -877,985 NFL, US$ | 2024 | down 100.5% | volatile |
| 95 | Tunisia | -882,599 NFL, US$ | 2024 | up 67.5% | volatile |
| 96 | Montenegro | -1.95 million NFL, US$ | 2024 | up 33.0% | volatile |
| 97 | Mauritania | -2.50 million NFL, US$ | 2024 | up 97.5% | volatile |
| 98 | Comoros | -3.45 million NFL, US$ | 2024 | — | volatile |
| 100 | Kyrgyzstan | -6.21 million NFL, US$ | 2024 | down 270.9% | volatile |
| 101 | Lebanon | -6.75 million NFL, US$ | 2024 | down 861.5% | volatile |
| 102 | Mauritius | -8.33 million NFL, US$ | 2024 | — | volatile |
| 103 | Mozambique | -9.28 million NFL, US$ | 2024 | down 194.4% | volatile |
| 104 | Nicaragua | -9.44 million NFL, US$ | 2024 | up 31.7% | volatile |
| 105 | Paraguay | -11.83 million NFL, US$ | 2024 | down 185.3% | volatile |
| 106 | Laos | -13.67 million NFL, US$ | 2024 | down 252.1% | volatile |
| 107 | Guinea | -14.19 million NFL, US$ | 2024 | down 346.0% | volatile |
| 108 | Uganda | -14.65 million NFL, US$ | 2024 | down 239.5% | volatile |
| 109 | South Africa | -15.41 million NFL, US$ | 2024 | down 472.6% | volatile |
| 110 | Myanmar | -15.70 million NFL, US$ | 2024 | down 119.6% | volatile |
| 111 | Yemen | -15.71 million NFL, US$ | 2024 | down 226.5% | volatile |
| 112 | Kenya | -18.53 million NFL, US$ | 2024 | down 122.4% | volatile |
| 113 | Zambia | -21.36 million NFL, US$ | 2024 | down 1,661.1% | volatile |
| 114 | Tanzania | -34.19 million NFL, US$ | 2024 | down 220.6% | volatile |
| 115 | Ghana | -35.10 million NFL, US$ | 2024 | up 31.2% | volatile |
| 116 | Cambodia | -40.63 million NFL, US$ | 2024 | down 174.7% | volatile |
| 117 | Sri Lanka | -48.93 million NFL, US$ | 2024 | down 411.7% | volatile |
| 118 | Guatemala | -57.41 million NFL, US$ | 2024 | down 535.7% | volatile |
| 119 | Pakistan | -68.88 million NFL, US$ | 2024 | down 142.5% | volatile |
| 120 | Turkey | -70.07 million NFL, US$ | 2024 | down 34.0% | volatile |
| 121 | Vietnam | -118.41 million NFL, US$ | 2024 | down 135.3% | volatile |
| 122 | Argentina | -248.67 million NFL, US$ | 2024 | down 114.9% | volatile |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- Kosovo -4.03 million NFL, US$
- IDA & IBRD total 5.80 billion NFL, US$
- World 5.80 billion NFL, US$
- Low & middle income 5.69 billion NFL, US$
- Middle income 5.31 billion NFL, US$
- IBRD only 4.87 billion NFL, US$
- Lower middle income 3.01 billion NFL, US$
- Early-demographic dividend 2.73 billion NFL, US$
- Upper middle income 2.29 billion NFL, US$
- Late-demographic dividend 2.08 billion NFL, US$
- South Asia 1.63 billion NFL, US$
- South Asia (IDA & IBRD) 1.63 billion NFL, US$
About this data
Nonguaranteed long-term debt privately placed from the International Finance Corporation (IFC). Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.