The IMF Senior Resident Representative and Mission Chief for Nigeria, Mr Amine Mati, has said that Nigeria’s debt to gross domestic product ratio at 28 per cent has increased but is still below the average sub-Saharan Africa and Africa as a whole.

He said this at the public presentation of the ‘Fall 2019 issue of the regional economic outlook for sub-Saharan Africa,’ in Lagos on Wednesday.

While mentioning that the revenue to GDP was low, he urged the Federal Government to increase its drive to create more jobs and revamp its fiscal consolidation.

He said, “Nigeria’s debt has increased but the level is way below the average for the region. Even if we include the CBN overdraft and others, we are talking about a debt to GDP ratio that does not go beyond 27 to 28 per cent to GDP and that is including AMCON overdrafts and others.”

On fiscal consolidation, he said, “For resource intensive countries and the non-resource intensive countries, one thing that is common is that when there is trade shock, they have to react. So, you lose revenues, debt

“In most countries, you would see debt is about 50 per cent to GDP and has increased since 2016 in all cases. But what is new is that most of the countries are back on a sustainable path and have plans to reduce debt through fiscal consolidation and they seem to have stabilised.”

“The growth in per capita to the GDP since 2016 has been sustained for the 12 group of countries and has stayed sluggish for the group of countries because they have to be dealing with trade shock and how they respond to the shock has also affected what is their path.”

In April, at the joint annual spring meetings with the World Bank in Washington DC, the IMF had expressed worry over Nigeria’s ability to repay its foreign debt, which was put at N24.387tn.

In October, the IMF at another forum called for an effective debt management strategy that would ensure that the amount borrowed posed limited risk and the funds deployed for developmental purposes.

The Managing Director, Financial Derivatives Company, Mr Bismarck Rewane, said, “We don’t have a debt crisis; we have a revenue problem but there are also other problems such as poverty, productivity. So, it is not as if we have a debt or revenue problem. Also, what we use our revenue for is also important.”

Rewane, who is also a member of the President’s Economic Advisory Council, added, “The government expenditure and the government investment multiplier is much lower than the private sector multiplier and the difference between the flow of wealth and the stock of wealth is a different story.”

https://punchng.com/again-imf-warns-nigeria-against-rising-debts/

In April, at the joint annual spring meetings with the World Bank in Washington DC, the IMF had expressed worry over Nigeria’s ability to repay its foreign debt, which was put at N24.387tn

He's not done yet, he's still borrowing.
It would take a generation to resolve this disaster called Buhari.

Yet the government finance minister and all their mummified zombies are down playing the financial bondage they are mortgaging Nigeria into.

Buharis Audio finance minister will soon come and remind US America and China are also owing

International Monetary Fraudsters

Ain't surprised,

Zombies will still come here to tell u how the past administration caused it. Dead meat seller would even start telling u how his darling daddy (not mine and definitely not sane Nigerians) buharia, is trying to solve a lot of problems.

God help me, lemme just get enough rabba to leave this hell hole, this sinking ship before we all drown

Let's just brace up for another Recession

Another day another drama ...

Some pipu won't return back to Nigeria after the holidays



Jaapa.com

helinues:
International Monetary Fraudsters

I swear. They need to stfu please

IMF doesn't hear word that our fresident doesn't read and doesn't hear well..






they should ask amaechi.








before 2023 if you'll don't read that the govt is looking to take loans from Akawo women,then we will do Thanksgiving in church.








just wait, next few years you will read a newspaper headline like this.

AKAWO WOMEN PROTEST IN ASO ROCK AND NASS
for the non payment of loans given to to federal govt of Nigeria

Please what and what did the government use this money for. The last I checked, the majority of Nigerians especially in rural areas live in abject poverty and the increasing unemployment raises the issue of “where is Nigeria real money”?

Hmmm

Why won't they since someone recovered approx. 350 million dollars loots from Abacha; shared the same within one month to imaginary poor Nigerians and still went back after one week to borrow 350 million dollars from China for infrastructural developments!!

Not done yet, Ikoyi gate money disappeared. Magu has been recovering billions of naira but only on Newspaper pages. What of money from single treasury accounts? IPSS? Crude oil sales? Fuel subsidy? And on and on.

Yet, boarders are closed for periferial reasons, yet rice in Aso rock villa is purely foreign rice. Or let Buhari or Osibanjo swear they did not eat foreign rice yesterday night around 8:30pm? Presidency is sacking it's citizens from work...
People are been/about been sent to prisons just for voicing out... Statesmen are silent, the president is always on the plane (Mr. Tourism)....

This country is strategically losing it; doomely doomed as our future is aptly mortgaged... Who can save us?

[s]

helinues:
International Monetary Fraudsters

[/s]

Spoken like a typical zombie

Story . Dem no go hear no bother.

It is well with Nigeria.

Na the citizens dey borrow am? or what are we to do, get frustrated over it and reduce our life expectancy? Useless news.

Ok
Audio Threatening

hisexcellency34:
Let's just brace up for another Recession

out ke. We comot for recession at all

Instead of stopping them, keep warning

Would our government care for the warning.help a brother in need see below

Nigeria have listened enough. They should warn Buhari. I hope he listens

All these recovered loot and busted peeps money can't be used to pay up atleast to an extent?..

waiting for zombies stake on this

"If you ain't ready to be a good man, don't ask God to bless you with a good woman."