* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 19, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Kroger shares summer entertainment tips – Supermarket Perimeter

    Ultimate Summer Entertainment Tips to Make Your Season Unforgettable

    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    Rough times for broadcast networks illustrate changing media landscape – New Haven Register

    Broadcast Networks Confront Turbulent Times in a Rapidly Changing Media Landscape

    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    Victorville’s new gunfire-detecting technology already making strides, city says – NBC Los Angeles

    Victorville’s New Gunfire-Detecting Technology Is Already Making a Difference, City Officials Say

    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Kroger shares summer entertainment tips – Supermarket Perimeter

    Ultimate Summer Entertainment Tips to Make Your Season Unforgettable

    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    Rough times for broadcast networks illustrate changing media landscape – New Haven Register

    Broadcast Networks Confront Turbulent Times in a Rapidly Changing Media Landscape

    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    Victorville’s new gunfire-detecting technology already making strides, city says – NBC Los Angeles

    Victorville’s New Gunfire-Detecting Technology Is Already Making a Difference, City Officials Say

    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Nigeria, others spend $443.5bn to service debt in 2022 – World Bank

December 16, 2023
in Business
Nigeria, others spend $443.5bn to service debt in 2022 – World Bank
Share on FacebookShare on Twitter

Nigeria, alongside other developing countries spent $443.5 billion to service public debt amid surge in interest rate, according to the World Bank.

The multilateral lender revealed this this in its recent International Debt Report for 2023, a longstanding annual publication featuring external debt statistics and analysis for the 122 low and middle-income countries that report to the World Bank Debt Reporting System.

“Amid the biggest surge in global interest rates in four decades, developing countries spent a record $443.5bn to service their external public and publicly guaranteed debt in 2022,” the World Bank said.

The Washington-based global lender stated that the rise in borrowing costs had diverted scarce resources away from critical needs such as education, health, and the environment.

“Debt-service payments which include principal and interest increased by five per cent over the previous year for all developing countries.

Read also: NNPC needs to be transparent about profit, revenue – World Bank

The 75 countries eligible to borrow from the World Bank’s International Development Association which supports the poorest countries paid a record $88.9bn in debt-servicing costs in 2022,” World Bank said.

World Bank stated that over the past decade, interest payments by these countries have quadrupled, to an all-time high of $23.6 billion in 2022.

Read also: There is a mafia in Nigeria’s Supreme Court that makes it the worst in the world – Agbakoba alleges
“Overall debt-servicing costs for the 24 poorest countries are expected to balloon in 2023 and 2024 by as much as 39 percent,” it said.

The Bretton Woods Institution stated that rising interest rates had made all developing nations more vulnerable to debt.

“There have been more sovereign defaults in the last three years than in the entire preceding two decades, affecting ten developing nations,” it said, adding that approximately 60 percent of low-income nations are currently in or at high risk of entering debt distress.

The World Bank said the stronger US dollar is adding to their difficulties, making it even more expensive for countries to make payments.

“Under the circumstances, a further rise in interest rates or a sharp drop in export earnings could push them over the edge,” World Bank said.

Read also: World Bank invests $500m to support livestock production in Nigeria

The Washington-based global lender said Nigeria and Tanzania were the top recipients of new financing from the World Bank in 2022 at $2.9 billion and $2.7 billion respectively.

“Total new commitments (from all types of creditors, including official and private) to Public and publicly guaranteed sector entities in International Development Association-eligible countries totaled $67 billion in 2022, a 30 percent decrease from the all-time high in 2021,’ it said.

The World Bank stated that this drop was primarily due to the decline in commitments from private sector creditors, which fell 72 percent to $9.7 billion.

“New commitments to International Development Association eligible countries from bilateral creditors also decreased by 30 percent to $14.2 billion. By contrast, new commitments from multilateral creditors increased by 4 percent to $43 billion,” it said.

Read also: NNPC needs to be transparent about profit, revenue – World Bank

The Washington-based global lender stated that new commitments by the World Bank (including IBRD and IDA lending) accounted for 58 percent of total multilateral creditor commitments, increasing by 8 percent in 2022 to an all-time high of $25.2 billion.

The World Bank said in 2022, the Bank of Industry of Nigeria, an official development bank, issued a $700 million Eurobond with a sovereign guarantee, which marked the institution’s first Eurobond issuance as well as the first provision of a Eurobond guarantee by the Federal Government of Nigeria.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/news/article/nigeria-others-spend-443-5bn-to-service-debt-in-2022-world-bank/

Tags: businessNigeriaothers
Previous Post

itel launches itel P55T smartphone with android 14 go edition and long-lasting battery

Next Post

FAAC disburses N1.08trn to FG, States, LGs

New online rangeland ecology course available – texasfarmbureau.org

Unlock the Secrets of Rangeland Ecology with Our Exciting New Online Course – Enroll Now!

July 19, 2025
Competitive research experiences give chemistry major advanced look into materials science field – lockhaven.com

Competitive research experiences give chemistry major advanced look into materials science field – lockhaven.com

July 19, 2025
Do Dogs Judge Human Character? Science Says Maybe Not – Study Finds

Do Dogs Judge Human Character? Science Says Maybe Not – Study Finds

July 19, 2025
People who still look young into their 60s and beyond usually have these 6 evening habits – VegOut

6 Evening Habits That Help You Stay Youthful and Radiant Well Into Your 60s and Beyond

July 19, 2025
FIDE World U9-U17 Rapid and Blitz Championships 2025: Registration now open – International Chess Federation – FIDE

Don’t Miss Out: Register Now for the Thrilling FIDE World U9-U17 Rapid and Blitz Championships 2025!

July 19, 2025
US economic activity rises but outlook pessimistic, Fed says – Reuters

US economic activity rises but outlook pessimistic, Fed says – Reuters

July 19, 2025
Kroger shares summer entertainment tips – Supermarket Perimeter

Ultimate Summer Entertainment Tips to Make Your Season Unforgettable

July 19, 2025
Trump’s ‘One Big Beautiful Bill’ could strip over 100K in Conn. of health coverage – NBC Connecticut

Trump’s ‘One Big Beautiful Bill’ Could Leave Over 100,000 in Connecticut Without Health Coverage

July 19, 2025
Rubio Restricts U.S. Criticism of Tainted Foreign Elections – The New York Times

Rubio Restricts U.S. Criticism of Tainted Foreign Elections – The New York Times

July 19, 2025
A major AI training data set contains millions of examples of personal data – MIT Technology Review

A major AI training data set contains millions of examples of personal data – MIT Technology Review

July 18, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (728)
  • Economy (751)
  • Entertainment (21,636)
  • General (15,979)
  • Health (9,789)
  • Lifestyle (759)
  • News (22,149)
  • People (753)
  • Politics (761)
  • Science (15,968)
  • Sports (21,248)
  • Technology (15,733)
  • World (735)

Recent News

New online rangeland ecology course available – texasfarmbureau.org

Unlock the Secrets of Rangeland Ecology with Our Exciting New Online Course – Enroll Now!

July 19, 2025
Competitive research experiences give chemistry major advanced look into materials science field – lockhaven.com

Competitive research experiences give chemistry major advanced look into materials science field – lockhaven.com

July 19, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version