Former minister of environment and incumber deputy secretary general of the United Nations (UN) Amina Mohammed has expressed worry over Nigeria’s rising level of debt.
Speaking at the International Monetary Fund (IMF) and the UN Working Together Conversation with IMF boss Christine Lagarde, Mohammed said former minister of finance and co-ordinating minister of the economy Ngozi Okonjo-Iweala got debt relief for Nigeria and it’s sad that the country is back to debt.
In a clip of the conversation published by TheCable, Mohammed said:
Public resources are always going to be important, and so is ODA and the private sector. But I think we still haven’t yet got quite the solution and I hope that the work that we do together will open up that space to think more on how to leverage that.
As I was coming up from New York, some of the concerns that came up from the meeting we had in China just recently and reports that we have; the debt issues are really big, I mean, having experienced what it was for Ngozi (Okonjo-Iweala) to get debt relief. It took her a few years to convince people, and we are now back again in my country, with a level of debt that is worrying, but its happening all over. Africa, is that the way we want to go?
I think we really need to sit down and have a better conversation about all the asks of a growing economy; that needs to be inclusive, it needs to succeed, because stability is needed more than ever today, across our countries and where we are working.