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flag Nigeria repaid $1.22 billion to the IMF, reducing its debt by 64.42%, but still faces high overall debt.

flag Nigeria has repaid $1.22 billion to the International Monetary Fund (IMF) over nine months, reducing its debt to the IMF by 64.42% to $1.16 billion. flag This follows a $3.4 billion emergency loan from the IMF in 2020 to help Nigeria address economic challenges from the COVID-19 pandemic and falling oil prices. flag Despite these repayments, Nigeria's total debt remains high due to recent borrowings and high servicing costs.

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