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Nigeria Missing As Egypt, South Africa, Ghana Make List Of Countries With Highest IMF Debt Record
Nigeria Missing As Egypt, South Africa, Ghana Make List Of Countries With Highest IMF Debt Record....KINDLY READ THE FULL STORY HERE▶
Despite Nigeria’s escalating public debt, the nation is notably absent from the list of top countries indebted to the International Monetary Fund (IMF), according to recent data from the renowned statistics platform, Statisense……..CONTINUE READING
Argentina leads the pack with a staggering debt of $30.99 billion, followed by Egypt, Ukraine, Pakistan, and Ecuador, with debts of $10.85 billion, $9 billion, $6.55 billion, and $5.77 billion respectively.
The list also includes Colombia, Angola, Kenya, Ghana, Côte d’Ivoire, South Africa, and Costa Rica.
While Nigeria’s Debt Management Office (DMO) revealed that the country’s total public debt had surged to N97.34 trillion by December 2023, its absence from the IMF’s list of debt-laden nations is noteworthy.
Despite the alarming figures, Nigeria’s avoidance of additional IMF debt suggests a relatively contained approach in its dealings with the global financial institution. However, experts warn that the nation’s growing total debt could pose long-term challenges to economic stability.
As Nigeria grapples with economic uncertainties, analysts emphasize the importance of effective economic reforms and prudent fiscal management to avert future financial crises.
List of Countries Most Indebted to the IMF:
- Argentina: $30.99bn
- Egypt: $10.85bn
- Ukraine: $9bn
- Pakistan: $6.55bn
- Ecuador: $5.77bn
- Colombia: $3.28bn
- Angola: $3.08bn
- Kenya: $2.57bn
- Ghana: $2.04bn
- Côte d’Ivoire: $1.94bn
- South Africa: $1.91bn
- Costa Rica: $1.68bn
During an interview on Channels Television’s ‘Politics Today’, former minister Rotimi Amaechi dismissed recent comments made by FCT Minister Nyesom Wike regarding his selection as a running mate, stating that he does not respond to subordinates and noting that Wike never employed him.....KINDLY READ THE FULL STORY HERE▶
Additional context regarding the political exchange includes:
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Wike’s Remarks: During a media briefing, Wike alleged that Amaechi’s selection was financially motivated rather than strategic, questioning his electoral viability and political influence post-2011.
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Amaechi’s Response: Maintaining that he is currently focused on mourning, Amaechi indicated that he intends to respond more forcefully once his campaign activities officially begin.
During an interview on TVC News, former Lagos State Peoples Democratic Party (PDP) chairman Deji Doherty disputed claims that Chief Olabode George is a founding father of the party, asserting instead that George was introduced into the party’s leadership by former President Olusegun Obasanjo around 1999.....KINDLY READ THE FULL STORY HERE▶
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Criticism of Leadership: Doherty argued that Obasanjo’s decision to entrust the management of the Lagos State PDP chapter to George was a mistake and that the affairs of the state branch were poorly handled.
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Internal Party Crises: Displaying reconciliation documents during the broadcast, he noted that past efforts by respected party elders to resolve internal party disputes have failed to secure long-term peace.
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Call for Youth Empowerment: Doherty emphasized that the ongoing leadership struggles should pave the way for a younger generation to take charge of the nation’s political future, regardless of party affiliation.
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Parallel (Black) Market Rates: According to Bureau De Change (BDC) sources in Lagos for Tuesday, August 4, 2026, the parallel market traded the US Dollar at a buying rate of ₦1,410 and a selling rate of ₦1,425.....KINDLY READ THE FULL STORY HERE▶
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Official CBN Rates: Central Bank of Nigeria figures recorded rates ranging from a low of ₦1,361 to a high of ₦1,364.
Key Advisory Notes
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Regulatory Stance: The CBN does not officially recognize the parallel market and advises individuals engaging in foreign exchange transactions to utilize authorized banking channels.
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Price Variance: Actual market transaction rates may differ across various dealers and locations due to continuous market fluctuations.
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