LAGOS JANUARY 17TH (NEWSRANGERS)-The International Monetary Fund (IMF) identifies 10 African countries with manageable debt, shedding light on their economic stability. Nigeria stands out despite domestic concerns. Tanzania (41.8% Debt-to-GDP Ratio) Tanzania takes the lead among Africa’s least indebted nations with a debt-to-GDP ratio of 41.8%. The East African nation’s relatively low ratio indicates a…
LAGOS APRIL 19TH (NEWSRANGERS)-Nigeria spent nearly all the revenues it earned last year servicing its debts, the World Bank said in a new report. Debt service as a proportion of government income increased to 96% in 2022 from 83% a year earlier, according to the World Bank. Low revenue and rising interest payments have left…
LAGOS FEBRUARY 8TH (NEWSRANGERS)-The International Monetary Fund (IMF) has insisted on the removal of fuel subsidy by the Nigerian authorities. The position of the organization was contained in the Executive Board’s conclusion of the Article IV consultation with Nigeria report, which was released, yesterday. According to the Fund’s statement on the report, “Directors also urged…
LAGOS JUNE 11TH (NEWSRANGERS)-A spokesman for the IMF on Thursday warned of the risks of using bitcoin for day-to-day transactions after El Salvador, which is in negotiations for additional funds from the crisis lender, approved the cryptocurrency’s use. An IMF team is scheduled to meet with El Salvador’s President Nayib Bukele later Thursday as the…