Tag: debt distress
Sustainable Development, Sustainable Debt: Zainab Ahmed: Nigeria not anywhere near debt distress levels
Nigeria's Minister of Finance, Budget and National Planning, Zainab Ahmed says it is very important for African countries to balance the need between development and debt sustainability. She also stressed that Nigeria is not anywhere near debt distress levels when asked about the government's recent borrowing plans. CNBC Africa's Kenneth Igbomor caught up with Zainab Ahmed in Dakar at International Monetary Fund’s (IMF) international conference on Sustainable Development and Debt Sustainability.
The number of Sub-Saharan Africa countries at high risk of debt distress rose from 8 in 2013 to 18 in 2018, according to the World Bank, fuelling fears that many countries may fall into a debt trap. The issue tops the agenda of the 49th biannual research workshop that will take place in Nairobi over the weekend. For more on this CNBC Africa is joined by Dr. Witness Simbanegavi, Director of Research at AERC African Economic Research Consortium that organised the workshop.