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The national debt of Nigeria has increased over time due to various factors, such as government spending, revenue, economic growth, inflation, exchange rates, and interest rates. [4] The ratio of debt to gross domestic product (GDP) is often used as an indicator of the sustainability and solvency of the national debt. [ 4 ]
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
This is a list of countries by external debt: it is the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods or services, where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based on the country under ...
interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate minus average inflation rate (2017–2021) Afghanistan: 6.00 3.00: 24 July 2021 [3] 3.38 2.62 Albania: 2.75 0.25: 6 November 2024 [4] 1.78 0.97 Algeria: 3.00 0.25: 29 April 2020 [5] 4.14 ...
In 2012, Nigeria's external debt was an estimated $5.9 billion and N5.6 trillion domestic, putting total debt at $44 billion. [172] In April 2006, Nigeria became the first African country to fully pay off its debt owed to the Paris Club. [173]
Countries by household debt, loans and debt securities as % of GDP 1980 to 2022 [1]; Country 2022 2021 2018 2017 2016 2015 2010 2005 2000 1995 1990
It is the practice of predicting or forecasting the ability of a supposed debtor to pay back the debt or default. [1] The credit rating represents an evaluation from a credit rating agency of the qualitative and quantitative information for the prospective debtor, including information provided by the prospective debtor and other non-public ...
The Debt Management Office (DMO) is a government agency established on 4 October 2000, tasked with centralizing the management of Nigeria's debt. [1] It was created in response to challenges in Nigeria's debt portfolio, which included high external and domestic debt, substantial debt service, low external reserves, and weak debt management capacity.