Countries with the Highest Real Interest Rate (2026) (2023)
Source: World Bank·25 countries·Updated 2023
The real interest rate subtracts inflation from the nominal rate. {#1} has the highest at {#1_value}.
Madagascar leads with real interest rate (%) of 42.9%.
Brazil ranks #2 at 34.7%.
Azerbaijan ranks #3 at 16.3%.
Kyrgyz Republic ranks #4 at 14.4%.
Mozambique ranks #5 at 14.3%.
Top 25 Countries by Real Interest Rate (%)
| # | Country | Real Interest Rate (%) | Year |
|---|---|---|---|
| 1 |  Madagascar | 42.9% | 2023 |
| 2 |  Brazil | 34.7% | 2024 |
| 3 |  Azerbaijan | 16.3% | 2024 |
| 4 |  Kyrgyz Republic | 14.4% | 2024 |
| 5 |  Mozambique | 14.3% | 2024 |
| 6 |  Papua New Guinea | 13.3% | 2023 |
| 7 |  Timor-Leste | 12.1% | 2024 |
| 8 |  Rwanda | 11.8% | 2024 |
| 9 |  Armenia | 11.6% | 2024 |
| 10 |  Seychelles | 10.6% | 2024 |
| 11 |  Micronesia, Fed. Sts. | 10.6% | 2021 |
| 12 |  Dominican Republic | 10.5% | 2024 |
| 13 |  Honduras | 10.4% | 2024 |
| 14 |  Malawi | 9.9% | 2024 |
| 15 |  Colombia | 9.8% | 2024 |
| 16 |  Tanzania | 9.6% | 2020 |
| 17 |  Barbados | 9.4% | 2022 |
| 18 |  Vanuatu | 9.4% | 2024 |
| 19 |  Eswatini | 9.4% | 2024 |
| 20 |  Sierra Leone | 9.0% | 2024 |
| 21 |  Myanmar | 9.0% | 2020 |
| 22 |  Uzbekistan | 8.6% | 2024 |
| 23 |  Brunei Darussalam | 8.6% | 2024 |
| 24 |  Bolivia | 8.4% | 2023 |
| 25 |  Guatemala | 8.4% | 2024 |
Data from 112 countries is available. View full rankings →
FAQ
What is the highest real interest rate (%) in 2023?
Madagascar has the highest real interest rate (%) at 42.9% in 2023.
How many countries are included in this ranking?
This article features the top 25 countries out of 112 with available data. Full rankings available on the indicator page.
Where does this data come from?
Data is sourced from the World Bank. It is updated regularly as new releases become available.