The Debt Management Office has allayed fears over concerns by the International Monetary Fund on Nigeria’s debt sustainability.
Reacting to the IMF’s position in a statement issued yesterday, the DMO noted that while the reports by the IMF and Agusto and Co. that Nigeria’s debt levels and debt service levels had grown over the years may be the case, “these reports have failed to consider the challenges experienced by Nigeria in recent times such as two recessions, sharp drop in revenues and security challenges.”
The DMO also noted that the Nigerian government has active and regular engagements with the IMF on borrowing and debt management.
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