2023 Borrowing Plan - Govt May Drive Nigeria's Debt to Highest Ever daily_trust: Nigeria
It resonated concerns from many economists and analysts who fear the country is racing towards a debt cliff that may envelop its economic fundamentals and trigger a social crisis.
With the country already at the point where interest payment on existing debts is beginning to interfere with the operations of the economy, the borrowing plan is sure to compound a situation that is already bad by all known standards. These figures are virtually out of sync with Nigeria's current reality as far as the financial markets are concerned.
If the local market cannot absorb this quantum of borrowing, the government will most likely fall back on its Ways and Means, the euphemism for printing money or borrowing from the central bank. With this figure currently standing at about N19trn, the probability is high that it could head toward somewhere close to N30trn next year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Assessing your need for long-term insurance[ADVISOR VIEW] Devon Card from crueinvest provides some guidelines for assessing your need for long -term insurance. Moneyweb PersonalFinance
Read more »
Lionel October appointed acting commissioner of National Lotteries Commission | The CitizenThe National Lotteries Commission appoints Lionel October as new Acting Commissioner, following Thabang Mampane exit under scrutiny for corruption.💸
Read more »
SA Startup NoPBX Expands to Namibia - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsNoPBX, South Africa’s own locally developed cloud PBX-over-GSM solution, has expanded its services to Namibia. Launched in SA at the end of 2020, NoPBX says it has enjoyed rapid growth since then amongst small and medium-sized businesses – the “SME” market – boasting clients across all industries, from agriculture and technology to hospitality, events, doctors and […]
Read more »
Liberia: Senate Confirms Justice YuohThe Plenary of the Liberian Senate has unanimously voted to confirm her Honor, Sie-A-Nyene G. Yuoh as the next Chief Justice of the Republic of Liberia replacing Justice Francis S. Korkpor, who is slated to retire at the end of the March Term of Court.
Read more »