Finance minister defends Nigeria’s rising debts
Mrs Ahmed said this in an interview with the News Agency of Nigeria on the side-line of the just concluded IMF/World Bank meetings, which took place in Washington DC from April 9 to 14.Euro bonds, loans from World Bank Group, China and Africa Development Bank Group make up over 80 per cent of the country’s debt stock.Mrs Ahmed insisted that in spite of warnings by the IMF and World Bank, the country was not in any way near a debt crisis.
“What we are doing is to increase our revenue-generating capacity to make it easier for us to meet our debt obligations and our routine as well as capital expenditure,’’ she said. The correspondent also raised concerns about whether the conditions for the loans were favourable to the overall interest of Nigeria.
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