"But this greater reliance on foreign borrowing may at some point become a vulnerability, if these resources are not put to good use".
President Muhammadu Buhari has requested the National Assembly to approve a request to borrow $5.5 billion.
"This is no time for complacency".
The IMF Director said despite low interest rates, debt servicing burdens have risen in several economies.
-IMF warns Nigeria against the mismanagement of borrowed funds.
She however urged government to do more especially in mobilizing more non-oil revenues. Action is required because vulnerabilities are building. The key question is how are those funds used by those countries?
"Helping low-income developing countries cope with the consequences of climate change is both a humanitarian imperative and sound global economic policy that helps offset countries' failure to fully internalise the costs of greenhouse gas emissions".
Kosovo's economy expanded by 3.4% in 2016, according to the IMF estimate in the report.
The IMF said emerging market economies should continue to take advantage of supportive external conditions to enhance their resilience, including by continuing to strengthen external positions where needed, and reduce corporate leverage where it is high. Economic activity has also picked up in Angola.
"Growth in Nigeria is projected to pickup from 1 per cent in 2017 to 2.5 per cent in 2018 and 2.8 per cent in 2019".
Ethiopia's Minister of Environment, Forest and Climate Change, Gemedo Dalle, will be presenting the country's best practice around climate change adaption during his engagement at the 8th Sustainable Innovation Forum, in partnership with the UN Environment, 13 - 14 November, Bonn, during COP23.
In a video conference to discuss the latest report, World Bank Chief Economist for Africa Mr Albert Zeufack, said the fiscal space narrowed significantly for most countries in the region in recent years amid rising debt burdens.
Baku, Fineko/abc.az. On 11-15 October, Washington will host the annual meeting of the International Monetary Fund (IMF) and the World Bank (WB).
"Moreover, the moderate pace of growth will only yield slow gains in per capita income that will not be enough to harness broad-based prosperity and accelerate poverty reduction", she said.
Al-Jamal said that the bank was committed to support the Federal Government to improve its water, roads, education and health infrastructure as well as other services to poor and vulnerable people.