The International Monetary Fund has warned Nigeria and other low-income countries that high public and private borrowing will likely increase financial vulnerability and lead to more inflation.
The IMF says the war in Ukraine is adding risks to unprecedented levels of public borrowing and the pandemic is still straining many government budgets.
The lender says increases in energy and food prices were adding to pressures on the poorest and most vulnerable since food accounts for up to 60 per cent of household consumption in low-income countries
The International Monetary Fund has warned Nigeria and other low-income countries that high public and private borrowing will likely increase financial vulnerability and lead to more inflation.
The IMF says the war in Ukraine is adding risks to unprecedented levels of public borrowing and the pandemic is still straining many government budgets.
The lender says increases in energy and food prices were adding to pressures on the poorest and most vulnerable since food accounts for up to 60 per cent of household consumption in low-income countries
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