Welcome to 9jaflaver

HOME | MUSICS | FREEBEAT | VIDEOS | NEWS | TECHS | JOKES | COMEDY VIDEOS | CONTACT US

Celebrity News | 9ja foods / recipes | 9ja Musics | 9ja News | Education | Fashion | Football Updates | Freebeats | Lifestyle | Funny Photos

Like us on facebook | Follow us on twitter

You Can Email Us:- [email protected]

Follow Us On Instagram Here

Quick Contact
23408114624972

Music Producers Send Us Your Freebeats /Instrumentals Let's Promote It For Free Here

Upcoming Artistes:- Promote your music on 9jaflaver Here

DOWNLOAD 9JAFLAVER ANDROID APP HERE

Call Ego Catering Services Now For All Your Quality Dishes, Event Planning, Cakes, e.t.c (Click Here)



« | »

“Don’t Borrow Above $22 Billion” – Debt Management Office Warns Buhari

“Don’t Borrow Above $22 Billion” – Debt Management Office Warns Buhari

The Debt Management Office, DMO, has advised the Federal Government not to borrow above $22.08 billion in 2017.
The DMO gave the recommendation on Tuesday in its 2016 Debt Sustainability Analysis (DSA) report, obtained by the News Agency of Nigeria in Lagos.
In the report, DMO stated that the end-period on Net Present Value (NPV) of the Total Public Debt-to-GDP ratio for 2016 for the Federal Government was projected at 13.5 per cent.
”The maximum amount that can be borrowed (domestic and external) by the Federal Government of Nigeria in 2017, without violating the country-specific threshold, will be 22.08 billion dollars (i.e. 5.89 per cent of 374.95 billion dollars).
”The Debt Management Strategy, 2016-2019 provides for the rebalancing of the debt portfolio from its composition of 84:16 as at the end of December, 2015 to an optimal composition of 60:40 by the end of December, 2019 for domestic to external debts, respectively.
It explained that the development supported the use of more external finance for funding capital projects, noting that the policy was in line with the focus of the present administration on speeding up infrastructure development in the country.
The DMO stated that it would achieve this by substituting the relatively expensive domestic borrowing in favour of cheaper external financing.
”This policy stance has been reinforced by the recent deterioration in macroeconomic variables, particularly with respect to the rising cost of domestic borrowing.
”Hence, the shift of emphasis to external borrowing would help to reduce debt service burden in the short to medium-term and further create more borrowing space for the private sector in the domestic market.
”Accordingly, for the fiscal year 2017, the maximum amount that can be borrowed is 22.08 billion U.S. dollars and it is proposed to be obtained from both the domestic and external sources as follows:
”New Domestic Borrowing 5.52 billion U.S. dollars (equivalent of about N1.6 billion) and New External Borrowing: 16.56 billion U.S dollars (equivalent of about N4.8 billion).”
The DMO also emphasised that the recommendation was made, taking into account the absorptive capacity of the domestic debt market and the options available in the external market.
Nigeria’s total debt portfolio rose 30 per cent to $62 billion in 2014, up from $47.6 billion as at September 2013.
The country’s external debt stood at $9.52 billion, 15 per cent of the entire debt stock.
Domestic borrowing, however, accounted for bulk of the total money owed by Africa’s largest economy.
Prior to the 2005 debt relief, bad debt management practices led to the payment of $4.9 billion yearly on debt servicing.

Todayng

Click Here To Comment On This Post

THANK YOU FOR VISITING 9jaflaver.com WE HOPE TO SEE YOU COME VISIT AGAIN
You can go through other informative, and entertaining posts here on 9jaflaver, and you can even comment at the buttom of this post. THANK YOU

Follow Us On Instagram Here

Follow us on twitter Here

Like us on facebook Here

Posted by on October 28, 2016.

Categories: 9ja news

There is love in sharing

0 Responses

Don't Just Read A Post And Go, Comment Below To Make The Post Lively

Do You Have Something To Say? Comment In The Box Below

Your Name Below

NOTE:- After Dropping your comment, keep calm, it will take 5mins before it appears.

« | »


9jaflaver Face Of The Week

Name:- Blisz Onogwu
Occupation:- Student / Model
Call / BBM Pin:- 5C043FDD
Instagram:- IG_Bliszonogwu

Wish to be our face of the week? Send your photos, phone number, instagram handle to us via whatsapp:- 08114624972 or email:- [email protected]


Advertise | About Us | Privacy Policy | Contact Us | Content Removal | DMCA

Like us on facebook | Follow us on twitter
Copyright © 2016 9jaflaver
Powered By: 9jaflaver