Nigeria set to clear IMF debt by mid-2025 after reducing outstanding balance by 87.5% from March 2023 to March 2025

Key Takeaways:

  • Nigeria’s outstanding debt to the IMF has reduced from SDR 2.45 billion in March 2023 to SDR 306.81 million by March 2025.
  • The country has maintained a consistent quarterly repayment pattern, averaging SDR 306.8 million.
  • This steady repayment trend reflects Nigeria’s commitment to managing its external obligations.
  • At the current repayment rate, Nigeria is positioned to fully clear its IMF obligations by mid-2025.

From March 31, 2023, to March 31, 2025, Nigeria has made remarkable progress in reducing its debt to the International Monetary Fund (IMF). From an outstanding balance of SDR 2.45 billion in March 2023, the country has gradually reduced its debt to SDR 306.81 million.

The consistent quarterly repayment has resulted in an 87.5% reduction in outstanding debt over two years. With the current repayment trend, Nigeria will eliminate its IMF debt by mid-2025, marking a significant achievement in its financial governance.

Source:

International Monetary Fund (IMF)

Period:

2023-2025
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