Nigeria, 46 Other Low-Income Countries' Debt Burden Rose 12% in 2020 to $860bn - World Bank

11 October 2021

The debt burden of the world's 47 low-income countries, including Nigeria rose 12 per cent to a record $860 billion in 2020, according to a new report released at the ongoing hybrid annual meetings of the World Bank/Intenational Monetary Fund (IMF) in Washington DC, United States of America.

The new International Debt Statistics (IDS) 2022 report observed that governments around the world responded to the COVID-19 pandemic with massive fiscal, monetary, and financial stimulus packages.

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