Nigeria: IMF - Debt Service to Account for Over 60 Percent of Govt Revenue in Nigeria, Gabon, Angola

17 November 2017

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.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.