Abuja — The International Monetary Fund (IMF) has warned that debt servicing costs are becoming a burden, especially in oil-producing countries, noting that such costs were expected to absorb over 60 per cent of government revenues in 2017 in Nigeria, Angola and Gabon.
The IMF stated that public debt rose above 50 per cent of Gross Domestic Product (GDP) in 22 sub-Saharan African countries at the end of 2016.
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