FG’s Commercial Loans Rise by 31%, Hit $14.67bn

The Federal Government’s commercial debt has risen by 31 per cent from $11.17bn to $14.67bn, according to an analysis of data on actual external debt stock from the Debt Management Office.

Specifically, the nation’s commercial loans rose by $3.5bn from $11.17bn in 2020 to $14.67bn in 2021.

According to the report, the $11.17bn recorded in 2020 was 33.49 per cent of the total external debt stock. It consisted of $10.87bn Eurobonds and $300m Diaspora Bond.

Also, the $14.67bn recorded in 2021 as 38.21 per cent of the total external debt stock. It consisted of $14.37bn Eurobonds and $300m Diaspora Bond.

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