Nigeria’s indebtedness will climb to 24.1 per cent of its Gross Domestic Product by 2018, the International Monetary Fund has said.
The IMF, which stated this in its World Economic and Financial Surveys, also projected that by the end of 2017, the country’s current indebtedness would have reached 23.3 per cent of the GDP.
The country closed 2016 with a debt to GDP ratio of 18.6 per cent. By the end of 2015, Nigeria’s debt to GDP ratio stood at 12.1 per cent, according to the Bretton Wood institution.
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