The Debt Management Office (DMO), has said the International Monetary Fund (IMF) and Agusto and Co. In their recent reports on Nigeria’s debt service failed to state that debt and debt service levels have grown over the years.
It said that the reports 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 analysis did 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.
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