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FG defends debt borrowing

The federal government has defended the country’s position with regards to  foreign borrowing which the International Monetary Fund IMF listed the vulnerability to foreign debt as one of the major threats to economic growth amongst African countries, especially in the sub-Saharan group which includes Nigeria.

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We prefer stable exchange rate now to building reserves — CBN replies IMF

The Central Bank of Nigeria, CBN, yesterday responded to the International Monetary Fund, IMF, propositions on judicious use of the nation’s external reserves to build buffers against the shock of rising interest rates in the monetary policy normalisation regime of the United States, saying CBN’s policy preference for now is to maintain exchange rate stability.

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