Contrary to investors’ projection concerning Nigeria’s debt profile for 2019, it has been disclosed that the Federal Government would put a stop to borrowing from the international debt market as the government has opted for domestic debt market.

The Debt Management Office (DMO) said the government would no longer seek funds in the international debt markets for the remaining months in this year. This is contrary to investors’ projection on the country’s debt financing for 2019.

In 2018, Nigeria issued a record of $10.7 billion of international bonds, and investors predicted that more would be offered in 2019 to cover the shortfall, which according to Bloomberg, is projected at N2.5 trillion ($6.9 billion). In September 2019, a strategist at the Bank of America Merrill Lynch, Rukayat Yusuf, had said the government was... https://nairametrics.com/2019/10/26/nigeria-makes-sudden-u-turn-suspends-external-borrowing-from-international-market/

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