(PRESS RELEASE)
DMO’S RESPONSE TO THE IMF REPORT
The Debt Management Office (DMO) in a comment on the recent Reports by the International Monetary Fund (IMF) and Agusto and Co. on Nigeria’s Debt Service stated that Debt levels and Debt Service levels have grown over the years.
However, while this 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.
Even more, the analyses do not acknowledge the improvements in infrastructure which have been achieved through borrowing, as well as, the strong measures by the Government to grow Revenues.
The DMO re-iterated the fact that the Government is already implementing policies towards increasing revenues and developing infrastructure through Public Private Partnership 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.
Debt Management Office
The Presidency
Plot 447/448 Constitution Avenue,
Central Business District, Abuja – Nigeria
February 12, 2022
