OMG!!! Nigeria’s Debt Profile Set To Hit N28.5 Trn

 

Nigeria’s debt is set to reach $87.4 billion (N28.5 trillion) with the new $3.4 billion(N1.1trillion) loan request approved by the   International Monetary Fund (IMF).


The International Monetary Fund had on Tuesday approved $3.4 billion COVID-19 emergency financing to help Nigeria free up more resources to protect lives and livelihoods.

The debt profile, according to the Debt Management Office (DMO, ) as updated in March 2020, stood at $84 billion (N27.4 trillion).
With the new approval of $3.4 billion by the IMF, total debt would rise to $87.4 billion (N28.5 trillion) when disbursed.

Source:thewhistler.ng