RISING DEBT SERVICING COST CAN IMPEDE GROWTH – CBN

Written by on November 5, 2020

THE CENTRAL BANK OF NIGERIA HAS EXPRESSED CONCERN OVER THE RISING COST OF DEBT SERVICE BEING INCURRED BY THE FEDERAL GOVERNMENT.

THE CBN, IN ITS HALF-YEAR 2020 ECONOMIC REPORT, SAID THE TRAJECTORY OF FEDERAL GOVERNMENT’S DEBT FURTHER CONSTRAINED FISCAL POLICY DURING THE PERIOD, AS INTEREST PAYMENT OBLIGATIONS AMOUNTED TO N1.15TN IN THE FIRST HALF OF 2020.

IT SAID AT 19.2 PER CENT, THE DEBT-TO-GDP RATIO INDICATED A SOLVENCY POSITION OF THE GOVERNMENT.


Reader's opinions

Leave a Reply

Your email address will not be published. Required fields are marked *



Current track

Title

Artist

Background