Of the economies in the World Bank's latest release, Madagascar has the highest risk premium on lending (lending rate minus treasury bill rate, %) (48.65% in 2025) and Zambia the lowest (-11.32% in 2020).
What this measures
Risk premium on lending is the interest rate charged by banks on loans to private sector customers minus the "risk free" treasury bill interest rate at which short-term government securities are issued or traded in the market. In some countries this spread may be negative, indicating that the market considers its best corporate clients to be lower risk than the government. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.
Limitations: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.
Each country's latest available year is shown; countries report on different schedules, so compare years before comparing values.
Ranking
| # | Economy | Latest value | Year |
|---|---|---|---|
| 1 | Madagascar | 48.65% | 2025 |
| 2 | Brazil | 30.76% | 2025 |
| 3 | Tajikistan | 28.66% | 2017 |
| 4 | Malawi | 21.22% | 2024 |
| 5 | Sierra Leone | 19.53% | 2025 |
| 6 | Mauritania | 12.33% | 2017 |
| 7 | Tanzania | 12.26% | 2020 |
| 8 | Kyrgyz Republic | 10.64% | 2023 |
| 9 | Uganda | 10.04% | 2018 |
| 10 | Rwanda | 8.42% | 2024 |
| 11 | Georgia | 8.37% | 2025 |
| 12 | Gambia, The | 8.34% | 2025 |
| 13 | Maldives | 8.13% | 2025 |
| 14 | Belize | 7.88% | 2025 |
| 15 | Barbados | 7.55% | 2022 |
| 16 | Seychelles | 7.39% | 2025 |
| 17 | Guyana | 7.14% | 2025 |
| 18 | Antigua and Barbuda | 7% | 2018 |
| 19 | Jamaica | 6.66% | 2025 |
| 20 | Cabo Verde | 6.44% | 2025 |
| 21 | St. Lucia | 6.13% | 2018 |
| 22 | Lebanon | 6.07% | 2019 |
| 23 | Dominica | 5.96% | 2018 |
| 24 | St. Vincent and the Grenadines | 5.89% | 2017 |
| 25 | Armenia | 5.58% | 2025 |
| 26 | Algeria | 5.29% | 2025 |
| 27 | Mozambique | 5.02% | 2025 |
| 28 | Solomon Islands | 4.69% | 2021 |
| 29 | Fiji | 4.4% | 2024 |
| 30 | Lesotho | 4.34% | 2024 |
| 31 | Mauritius | 4.31% | 2025 |
| 32 | Trinidad and Tobago | 4.21% | 2025 |
| 33 | Papua New Guinea | 4.06% | 2024 |
| 34 | South Africa | 3.51% | 2025 |
| 35 | Thailand | 3.45% | 2025 |
| 36 | Albania | 3.37% | 2024 |
| 37 | United States | 3.21% | 2021 |
| 38 | Iceland | 3.14% | 2025 |
| 39 | Czechia | 3.06% | 2018 |
| 40 | Bolivia | 3% | 2025 |
| 41 | Viet Nam | 2.89% | 2015 |
| 42 | Philippines | 2.77% | 2019 |
| 43 | Hong Kong SAR, China | 2.73% | 2025 |
| 44 | Montenegro | 2.57% | 2025 |
| 45 | Namibia | 2.24% | 2024 |
| 46 | Azerbaijan | 2.22% | 2017 |
| 47 | Canada | 2.18% | 2017 |
| 48 | Sri Lanka | 2.15% | 2019 |
| 49 | Angola | 1.9% | 2024 |
| 50 | Nigeria | 1.89% | 2025 |
| 51 | Hungary | 1.88% | 2025 |
| 52 | Malaysia | 1.77% | 2016 |
| 53 | Eswatini | 1.67% | 2024 |
| 54 | Kenya | 1.32% | 2024 |
| 55 | Italy | 1.31% | 2023 |
| 56 | Israel | 1.29% | 2022 |
| 57 | Romania | 1.25% | 2025 |
| 58 | Japan | 1.2% | 2017 |
| 59 | Bahamas, The | 1.18% | 2025 |
| 60 | Uruguay | 1.13% | 2025 |
| 61 | Pakistan | 1.08% | 2021 |
| 62 | Mexico | 0.66% | 2025 |
| 63 | Moldova | -0.12% | 2025 |
| 64 | Bangladesh | -2.13% | 2025 |
| 65 | New Zealand | -3.07% | 2025 |
| 66 | Egypt, Arab Rep. | -3.44% | 2024 |
| 67 | South Sudan | -6.12% | 2025 |
| 68 | Zambia | -11.32% | 2020 |
More financial sector indicators
- S&P Global Equity Indices (annual % change)
- Market capitalization of listed domestic companies (current US$)
- Market capitalization of listed domestic companies (% of GDP)
- Listed domestic companies, total
- Stocks traded, total value (current US$)
- Stocks traded, total value (% of GDP)
- Stocks traded, turnover ratio of domestic shares (%)
- Bank nonperforming loans to total gross loans (%)
- Automated teller machines (ATMs) (per 100,000 adults)
- Bank capital to assets ratio (%)
- Commercial bank branches (per 100,000 adults)
- Borrowers from commercial banks (per 1,000 adults)
Reading data like this
Source
World Bank, World Development Indicators, FR.INR.RISK, CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) View on data.worldbank.org; the full definition is in the World Bank's metadata glossary.
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