Debt

The Central Bank of Nigeria has paid $2bn to clear a part of its backlog of matured foreign exchange obligations to Deposit Money Banks. CBN’s forward contract obligations to banks is placed at $7bn, according to reports. The delay in…

Somalia is to benefit from a $4.5 billion debt reduction plan with international creditors to service its debt, the International Monetary Fund (IMF) announced in a statement on Wednesday. "Somalia's debt relief process is the result of…

The Central Bank of Nigeria says the debt owed to banks by manufacturers in the country, has risen from N5.56tn in January 2023 to N6.98tn in June 2023. The CBN's Sectoral Analysis of Deposit Money Banks’ Credit report showed that …

Financing of renewable energies, reform of the international financial system and carbon taxes, the first African summit on the climate drew up this week in Nairobi the list of the demands of Africa to lighten the financial burden of the…

The Federal Government spent $62.66m to service railway-related debts in the first quarter of 2023, according to Nigeria’s external debt service payments report by the Debt Management Office. Between January and March 2023, The Nigeria…

The Debt Management Office has stressed the need for Nigeria to boost revenue and manage spending like Indonesia, which is also an oil-producing country. The tweet read, “Indonesia, a fellow oil-producing country with a population size…

French president Emmanuel Macron welcomed his Zambian counterpart Hakainde Hichilema. The thorny topic of the restructuring of Zambia’s debt was among top issues since France co-chair of the Creditor Committee with China. On the sidelines…

US Vice President Kamala Harris has reiterated her call for a "rapid finalization" of Zambia's massive debt restructuring, during a visit to the southern African country, the last stop on a continental tour. The US has been pushing for…

Nigeria's total debt at the end of December, 2022, stood at N46.25 trillion. This was contained in the country's total public debt stock report released by the Debt Management Office and obtained by Voice of Nigeria. According to the…

Nigeria's Debt Management Office (DMO) and the African Centre for Leadership, Strategy and Development (Centre LSD) have tasked the incoming government on revenue generation to tackle Nigeria’s debt deficit. The stakeholders made the…