The Nigerian Economic Summit Group and Open Society Initiative for West Africa , at a presentation, held at the National Debt Management Office in Abuja, was graced by stakeholders from Nigeria’s public and private sectors, including Dr. Abel Essien, ECOWAS Commission; Paul Adeyeye, OSIWA and Zainab Mangga, the International Monetary Fund Country Office.
In her keynote address, The Director-General, DMO, Patience Oniha, said: “The timing of the launch of the report could not have been more appropriate with the global debt levels already rising pre-COVID-19 and still growing since the COVID-19 pandemic started in the year 2020.“According to the World Bank’s World Economic Outlook, ‘Globally, sovereign debt grew from 49.1% of GDP in 2014 to 57.9% in 2019, and in sub-Saharan Africa, from 35.1% of GDP in 2014 to 55.4% in 2019.
In a statement by NESG Chief Executive Officer, ‘Laoye Jaiyeola, he highlighted the depth of research and sub-regional collaboration involved in the production of the report, as well as its significance for sustainable debt management across the region, if implemented.
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