Nigeria, others at high risk of debt distress, IMF warns
Nigeria and 72 other countries are at high risk of debt distress or already in debt distress, according to a new report by the International Monetary Fund, IMF The report, titled “Restructuring debt of poorer nations requires more efficient coordination,” noted that low-income countries face fewer debt challenges today than they did 25 years ago, thanks in particular to the Heavily Indebted Poor Countries initiative, which slashed unmanageable debt burdens across sub-Saharan Africa and other regions. The report noted that although debt ratios were lower than in the mid-1990s, the debts have been creeping up for the past decade and…
