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Nigeria’s economy remains vulnerable despite exiting recession - IMF

The International Monetary Fund (IMF) has said the Nigerian economy had exited from recession but remains vulnerable.According to IMF the economic growth reached 0.8 per cent in 2017, driven mainly by recovering oil production, while inflation declined to 15.4 per cent year-on-year by end-December, from 18.5 per cent at end-2016.

Debt servicing: IMF warns Nigeria, Garbon, Angola against debt

The International Monetary Fund (IMF) has warned that debt servicing costs are becoming a burden, especially in oil-producing countries, noting that such costs were expected to absorb over 60 per cent of government revenues in 2017 in Nigeria, Angola and Gabon.The IMF stated that public debt rose above 50 per cent of Gross Domestic Product (GDP) in 22 sub-Saharan African countries at the end of 2016.

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