The list of the 20 most indebted African countries + See how much they owe!

15. Libya – $5,278,000,000

The Libyan economy depends upon revenue from the oil sector, which accounts for 80 percent of GDP. World Bank defined Libya as an upper middle income economy. Libya’s national debt is increasing at an alarming rate.

The debt was 3.29 percent of GDP in 2013. It increased to 39.3 percent in 2014. Libya had an external debt of $5.2 billion in 2012.