Nigeria: Nwankwo - We Resorted to Foreign Loans to Free Funds for Domestic Economy

7 November 2016

Abuja — The Director General, Debt Management Office (DMO), Dr. Abraham Nwankwo, has provided further insight into the federal government's $29.96 billion borrowing plan, saying the decision to take foreign loans is a strategic plan to free funds for domestic borrowing and drive down the cost of funds in the process.

The external borrowing option was equally taken because of the concessionary window offered by foreign lenders, he said.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.