From Kayemo News
Nigeria among the top countries with the least debt-to-GDP on the continent, International Monetary Fund (IMF) has said.
Other African countries with the least debts going into 2024 included Tanzania, Chad, Cameroon, and the Democratic Republic of Congo are among the countries with low debt-to-GDP.
BusinessDay reports that the debt-to-GDP is a critical metric that compares a country’s total debt to its economic output, with lower ratios showing financial stability and higher ratios indicating potential challenges in fulfilling debt obligations, influencing global investors and interest rates on government bonds.
Tanzania: 41.8% Debt-to-GDP Ratio Tanzania leads among Africa’sAfrica’s least indebted countries with a 41.7% debt-to-GPD ratio. The country’s relatively low ratio shows a balanced monetary approach, contributing to its economic stability. Nigeria: 41.3% Debt-to-GDP Ratio) Nigeria is surprisingly ranked second on the list of least indebted countries on the continent despite cries about its bloated debt servicing.
The country has about 41.3% debt to GDP, and its diverse economic sectors and efforts to manage its debts contribute to its position among the least indebted nations. Cameroon: 39.6% Debt-to-GDP Ratio The Central African country’s debt-to-GPD of 39.6% demonstrates Cameroon’s commitment to keeping a fiscal discipline.
The country has maintained strict control over government expenditures and prudent handling of oil revenue, critical resources, and others, which have aided its budgetary stability. {Legit. ng}