{"id":45975,"date":"2022-10-14T15:48:32","date_gmt":"2022-10-14T15:48:32","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=45975"},"modified":"2022-10-14T15:48:38","modified_gmt":"2022-10-14T15:48:38","slug":"dmo-says-nigeria-not-planning-to-restructure-debt","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/dmo-says-nigeria-not-planning-to-restructure-debt\/","title":{"rendered":"DMO says Nigeria not planning to restructure debt"},"content":{"rendered":"<p>The Debt Management Office (DMO), says contrary to reports by U.S. based financial, software, data and media company, Bloomberg, Nigeria has no plans to restructure its debt.<\/p>\n\n\n\n<p>The DMO said this in a statement on Thursday, against the backdrop of recent reports by Bloomberg that Nigeria was considering restructuring its debt and extending the repayment period of its credit obligations.<\/p>\n\n\n\n<p>The report had quoted Nigeria\u2019s Finance Minister, Mrs Zainab Ahmed, as saying that Nigeria had appointed consultants to advise the government as it faced a rising debt-service burden.<\/p>\n\n\n\n<p>The DMO said that the minister\u2019s statement was taken out of context.<\/p>\n\n\n\n<p>\u201cOver the years, Nigeria\u2019s Debt Management Strategy has always highlighted the need to utilise appropriate debt management tools to streamline the cost and risk profile in the debt portfolio.<\/p>\n\n\n\n<p>\u201cToward implementation of these strategies, Nigeria has typically availed itself of concessional loans, the spreading out of debt maturities to avoid bounching, and re-profiling of debt maturities by refinancing short-term debt using long-term debt instruments.<\/p>\n\n\n\n<p>\u201cAll these, non of which constitute debt restructuring, are already being implemented \u201d the DMO said.<\/p>\n\n\n\n<p>It said that the Nigerian government was also looking forward to exploring other appropriate debt liability management options such as \u201cbond- buy back\u201d and \u201cbond exchanges\u201d.<\/p>\n\n\n\n<p>\u201cWe want to assure local and international investors and creditors that Nigeria remains committed and will meet all its debt obligations, \u201d the DMO said.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-45975\" data-postid=\"45975\" class=\"themify_builder_content themify_builder_content-45975 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office (DMO), says contrary to reports by U.S. based financial, software, data and media company, Bloomberg, Nigeria has no plans to restructure its debt. The DMO said this in a statement on Thursday, against the backdrop of recent reports by Bloomberg that Nigeria was considering restructuring its debt and extending the repayment [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1711,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949],"tags":[206],"class_list":["post-45975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-debt","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DMO says Nigeria not planning to restructure debt - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/dmo-says-nigeria-not-planning-to-restructure-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DMO says Nigeria not planning to restructure debt - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Debt Management Office (DMO), says contrary to reports by U.S. based financial, software, data and media company, Bloomberg, Nigeria has no plans to restructure its debt. 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