The Federal Government through the Debt Management Office,
(DMO), has reacted to recent reports by the International Monetary Fund, (IMF),
and Agusto and Co which claimed that Nigeria’s debt levels and debt service
levels have grown over the years.
The DMO in a statement released on Saturday said the reports
failed to consider the challenges experienced by Nigeria in recent times such
as two recessions, a sharp drop in revenues and security challenges.
The Debt Office claimed the analysis made by the two Financial
Organizations did not acknowledge the improvements in infrastructure which have
been achieved through borrowing as well as the strong measures by the
Government to grow revenues.
It argued that the Federal Government is already implementing policies towards increasing revenue and developing infrastructure through Public-Private Partnership, (PPP), arrangements both of which will improve debt sustainability.
The DMO also noted that “the Government has active and
regular engagements with the IMF on borrowing and debt management”.
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