The Minister of Budget and National Planning, Senator Udo Udoma, on Thursday, agreed with the International Monetary Fund on the state of Nigeria’s debt portfolio and its vulnerability
According to him, it was an issue that should be adequately monitored.
Udoma, speaking at the presentation of the IMF Regional Economic Outlook Report for Sub-Sahara Africa, said Nigeria had realized that it had to improve its revenues in order to bring down the debt service to revenue ratio.
The IMF warned Nigeria and other oil-exporting countries over rising foreign debts, as external borrowing needs to be sustainable.
