The Nigerian leader recalled developing countries faced unsustainable debt burdens even before coronavirus outbreak and observed the pandemic had increased the risk of deepening debt, where public resources are allocated to servicing and repayments at the expense of financing for critical needs.
He commended the drive of international financial institutions and the G20 aimed at mitigating the economic situation of indebted nations.
“The is an urgent need to consider expansion and extension of the Debt Service Suspension Initiative to include all Developing, Least Developed Countries and Small Island Developing States facing fiscal and liquidity challenges”, he said.
G20 members are Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Spain is a permanent guest invitee.
The Buhari administration is being criticized for demanding that the Nigerian Senate approve fresh $4.054bn and €710million credit.
from dailypost
See his mouth asking them. How did he speak it first because am sure they won't understand his English.
ReplyDeleteEntitled president
Fantastically Corrupt!.
DeleteHis Abi their intention from all this borrow borrow is mk d next govt inherent debt.
After them collect money chop u want debt pardon
DeleteOkay o. If it's possible, good.
ReplyDeleteYou really can't shame the shameless
ReplyDeleteI don't think this uncle understands how government works especially as countries are under lockdown and covid 19 is still ravaging the world.
ReplyDeleteNo wonder he borrows money as if tomorrow is not Sunday. He borrows with intention for the loans to get canceled. Smh. The era has gone. They give you money, they watch to see what you do with it and not get it shared among your cronies.
Lol but tomorrow is not Sunday
DeleteHmmmmmmm
ReplyDeleteI just read the headline and I bust out with laughter
ReplyDeleteSo he borrows with the intention to beg for his debts to be cancelled.. .Kia
You wanted debt cancellation and you excluded Okonjo Iwuala from your government?
ReplyDeleteAsk OBJ how OBJ did it. And how will those countries listen to you when
there is massive looting under your very nose, some of which are in the banks of those countries?
Na bcos bambialaa too full dia bodi
ReplyDeletelol
DeleteNo free lunch anywhere bro
ReplyDelete