In this file photo taken on October 15, 2019, International Monetary Funds Managing Director Kristalina Georgieva pauses while speaking about gender equality during the IMF and World Bank Fall Meetings in Washington, DC. - Photo: AFPThe International Monetary Fund projected that the Federal Government of Nigeria may spend 93 per cent of the country’s revenue on the payment of interests incurred on its debts by 2022.
This projection was provided in the IMF’s ‘Nigeria Staff Report for the 2021 Article IV Consultation’ report. The report read, “Although interest payments were only two per cent of GDP in 2020, about 89 per cent of Federal Government revenues were absorbed by interest payments, reflecting poor domestic revenue mobilisation capacity.
Source: Loan Digest (loandigest.net)
This is totally unacceptable. How can a nation survive on 7% of her revenue at such tight times as the one we are into, when there is nothing on ground to justify the productive deployment of the underlying loans attracting these killer interests?.
That may not be a problem if only corruption is can be eliminated
here are my naked photos
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