IMF Warns of Growing Risks in Sub-Saharan Africa's Economic Ties with China.

 The International Monetary Fund (IMF) has issued a warning to Nigeria and other Sub-Saharan African countries about the risks associated with their close economic ties with China.Reas full article 

 This caution comes in light of reports stating that Nigeria's debt to China has increased to $4.73 billion as of June 30, 2023, with an $800 million rise within one year. 

The debt primarily funds infrastructural projects in Nigeria, including power generation, railways, water supply, and communication. The IMF highlighted concerns about the recent slowdown in China's economic growth, which could negatively impact African trading partners like Nigeria. 

The IMF advised Sub-Saharan African countries to adapt to evolving economic ties, increase regional trade integration, strengthen policy frameworks, promote economic diversification, and create favorable business environments to mitigate risks associated with the Chinese economic slowdown. 

However, some experts argue that Nigeria's concerns about China's economic outlook are disproportionate, given the country's pressing internal economic issues.