Nigeria: Govt Defends Debt Borrowing

16 October 2018

The federal government has defended the country's position with regards to foreign borrowing which the International Monetary Fund IMF listed the vulnerability to foreign debt as one of the major threats to economic growth amongst African countries, especially in the sub-Saharan group which includes Nigeria.

The government also stressed why reserves are falling, attributing the fall in reserves to the rising interest rates in developed economies.

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