5 Countries with Highest Interest Rates in 2024

In this article, we will take a look at the 5 countries with the highest rates in 2024. If you want to read our detailed analysis, you can go directly to 20 Countries with Highest Interest Rates in 2024.

5. Ghana

Latest Interest Rate (January 2024): 29%

With an interest rate of 29%, as of January 2024, Ghana ranks fifth on our list of the countries with the highest interest rates in 2024. The Bank of Ghana reduced its monetary policy rate by 100 bps, bringing the interest rate to 29% in January.

4. Turkey

Latest Interest Rate (January 2024): 45%

Turkey ranks fourth among the countries with the highest interest rates in 2024. Turkey has a notoriously high interest rate of 45%, as of January 2024. The Central Bank hinted toward an end to its tightening cycle, with an increase in its benchmark rate by 250 basis points to 45% in January 2024.

3. Venezuela

Latest Interest Rate (December 2023): 56.69%

Venezuela ranks among the countries with the highest interest rates. Venezuela has an interest rate of 56.69%, as of December 2023. The average interest rate in Venezuela between 1998 and 2023 was 24.12%, with an all-time high of 87.73% in February 2022.

2. Argentina

Latest Interest Rate (December 2023): 100%

With an interest rate of 100% as of December 2023, Argentina ranks among the countries with the highest interest rates in 2024. The interest declined 26% with the Central Bank’s new governance headed by President Javier Milei.

1. Zimbabwe

Latest Interest Rate (December 2023): 130%

Zimbabwe ranks first among the countries with the highest interest rates in 2024. Zimbabwe has an incredibly high interest rate of 130%, as of December 2023. The average interest rate in Zimbabwe between 2019 and 2023 was 81.95%.

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