The International Monetary Fund (IMF) has warned that global public debt is on course to exceed 100 per cent of world GDP by 2029 — a level not seen since the aftermath of the Second World War. Presenting the latest Fiscal Monitor in Washington on Wednesday, IMF Fiscal Affairs Director Vitor Gaspar cautioned that debt…
The House of Representatives says it will investigate Nigeria’s outstanding debt of 1.2 million Euros to Organisation of African, Caribbean and Pacific States (OACPS). The News Agency of Nigeria (NAN) reports that Nigeria, like other member-states, is expected to contribute financially to the OACPS budget and various development programmes. However, reports suggest that Nigeria has…
The World Bank says 26 poorest countries worldwide “are deeper in debt than at any other time since 2006,” while being increasingly vulnerable to natural disasters and other catastrophes. In its analysis, the World Bank found that these 26 nations, which have an annual per capita income of less than 1,145 dollars a year, “are…
