The Debt Management Office (DMO) has said that criticism of the federal government’s borrowings have failed to take into account the level of infrastructure and improved generation strategies.
In a statement on its website Sunday, which it stated was a response to the International Monetary Fund (IMF) and Agusto & Co, DMO stated that its critics on borrowing and debt serving did not factor the challenges the nation faced having come out from two recessions that affected revenue and the security challenges.
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Recall that both organisations had forecast a higher debt servicing-to-revenue ratio for 2022 which they said would affect the government’s plan for economic recovery.
The DMO further argued that the analyses of the two agencies did not acknowledge the improvements in infrastructure which had been achieved through borrowing, as well as the strong measures by the government to grow revenues.