… says borrowing costs higher than before COVID-19The bank disclosed this in its June 2021 Global Economic Prospects report released on Tuesday.The bank also noted that borrowing costs in Nigeria had remained higher than before the COVID-19 pandemic.“A sudden rise in sovereign borrowing costs could exacerbate fiscal pressures in some countries. Despite still-benign global financial conditions, sovereign borrowing costs have remained higher than before the pandemic in some countries ,” it said.
The report also identified the consequence of high debt burden and fiscal pressures, which it said would lead to intense financial distress. It said, “However, high debt burden and fiscal pressures could become more acute and precipitate financial distress in some countries, especially if borrowing costs increase sharply in line with further possible increases in long-term yields on government bonds in advanced economies and major EMDEs.
Is this growth on economy or terror?
These are d western financial institution tasked to ensure Africa follow the rules and regulation of the global economy policy designed to cause economic suppression in Africa and poverty while prescribing loans to keep us afloat and devalue our currency to make it worthless.
The person wey run up get diarrhea 😏
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