Friday, 17 November 2017

IMF raises fresh concerns over Nigeria’s public debts, others



  
    The International Monetary Fund IMF has come out again to warn Nigeria and two other African Nations over rising public debt stock, and projected that a whopping 60 per cent of these Countries’ revenue may be used up for debt service with only a paltry 40 per cent to contend with running of Government and service delivery.

   While Nigeria’s public debt as at the end of September this year was put at N20 trillion, according to data by the Debt Management Office DMO, details of the other two nations, Angola and Garbon could not be ascertained at press time.

  On the flip side however, the IMF commended the Central Bank of Nigeria CBN for sucking the foreign exchange pressure in Nigeria noting that though debt stocks have risen throughout the region, but that exchange rates pressures have eased in many countries, citing the case of Nigeria as a practical model.

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