Our economic strategy will mitigate debt service risk, says Adeosun

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The Minister of Finance, Mrs Kemi Adeosun, has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track development.

Adeosun, in a statement by her Special Advicer on Media, Mr Oluyinka Akintunde, on Thursday welcomed the advice of the International Monetary Fund in regards to the country’s decision to take more foriegn loans.

She said that Nigeria’s further borrowings from foriegn partners would help mobilise revenue, whilst reducing the nation’s debt burden by lengthening the maturity profile.

She said that foriegn borrowings would also increase foreign exchange reserves, reduce crowding-out of the private sector and create savings in debt service cost.

The minister said that a key element of the Federal Government’s economic reform strategy was the mobilisation of revenue…



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