The International Monetary Fund has warned Nigeria and other oil-exporting countries over rising foreign debts, saying there is a need to make external borrowings sustainable.
 
The fund, however, commended Nigeria for the recent reforms aimed at reducing infrastructure gap in the country.
 
The Assistant Director, Fiscal Affairs Department, IMF, Catherine Pattillo, gave the warning and commendation on the sidelines of the release of the fiscal monitor report by the fund in Washington DC, United States, on Wednesday. 
 
She stated that Nigeria needed to enhance its non-oil revenue collection such that its external borrowings, which have been largely channelled to infrastructure growth, would not create future debt crisis.