The African Development Bank has provided key insights into how Nigeria and other African nations can address their growing debt burdens and foreign exchange challenges.
The Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria that strategic borrowing and political stability were critical for growth.
Speaking on Nigeria’s debt profile, Urama, the AfDB’s Chief Economist, said that public debt itself was not inherently problematic.
“Debt for growth is a known way of growing economies. However, the quality and structure of the debt are crucial factors in determining its long-term impact,’’ he said.
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