Fed Govt Borrowing To Save Jobs, Says Minister

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More credit lines coming for banks

Nigerians in Diaspora to borrow from home

The Federal Government’s desire to borrow more funds from international creditors is to prevent job losses, Finance Minister Kemi Adeosun has said.

Mrs. Adeosun, who spoke yesterday at a joint press conference with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, at the conclusion of 2017 International Monetary Fund (IMF)/World Bank Group Annual Meetings in Washington D.C, said with Nigeria’s source of revenue dropping  by nearly 85 per cent, the country had no option but to borrow.  The option before the country was to either cut public services massively, which should have led to massive job losses, or borrow in the short-term, until it begins to generate sufficient revenues, she said.

 

 

Source:The Nation

 

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