International Monetary Fund (IMF)
Nigeria clears all N2.59tn IMF debt – Report
The International Monetary Fund (IMF) has confirmed that Nigeria has cleared all its legacy debt obligations.
An IMF official in a statement said the clearance marked the end of a decades-long financial burden that had weighed heavily on Africa’s most populous nation.
Legacy debts refer to obligations accumulated over past administrations, often including arrears owed to international creditors, bilateral partners, and domestic contractors.
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IMF Managing Director Kristalina Georgieva praised the Nigerian government for its “decisive fiscal management and commitment to long-term economic reform.”
She noted that this achievement reflected “a critical turning point for Nigeria’s economic trajectory and global credit standing.”
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