The growing debt service-to-revenue ratio in Nigeria, according to the World Bank, is a cause for concern.
By the end of 2022, the debt service to revenue ratio may be at 102.3%, according to the bank.
The Washington-based bank made this statement in its most recent Africa’s Pulse study, which is a biannual analysis of the region’s near-term macroeconomic prospects and is released in April and October in conjunction with the World Bank/IMF Spring and Annual Meetings.
The study said, in part, although Nigeria’s public debt is at a low level (37.6%), it is nonetheless a concern because the nation registered a high debt service-to-revenue ratio (118.9%) between January and April.
“Debt pressures have increased as debt service to revenue is projected to increase to 102.3 percent by end 2022″.
- Tags: #debtservice, #revenue, #worldbank, Nigeria
