IMF Speaks on Nigerias Participation in Global Loan Market Despite High Borrowing Cost [Video]

• Despite challenges caused by high borrowing costs, Nigeria continues to participate in the global loan market
• Nonetheless, the IMF has expressed support for Nigeria’s recent monetary policy initiatives
• The IMF also revised its economic forecast for Nigeria, projecting slower growth in 2024

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Nigeria and other frontier markets have maintained significant activity in the debt market throughout 2024, despite rising financing costs compared to pre-2021 levels.

Tobias Adrian, IMF’s financial counsellor and director of monetary and capital markets, stated this at a press conference on the global financial stability report at the IMF/World Bank annual meetings in Washington, DC.

He said:

“Frontier markets, including Nigeria, have been active in the debt market this year, and though access to financing is still more expensive than before, the overall issuance levels …