World development index, central bank of nigeria cbn and debt management office were used. The creation of dmo debt management office consolidated the. The fgn has an obligation to pay the bondholder the principal and agreed interest as and when due. Debt management office nigeria address, contact number. Notice of extension of circulars 1 and 2 debt management office. In 2009, the special evaluation office of international cooperation of the belgian. The january 2020 fgn bond auction by debt management office dmo which took place on wednesday, january 22, 2020 was bonds offer circulars. The debt management office dmo released the latest debt stats on tuesday. Debt profile debt management office nigeria debt management office nigeria. The debt management office dmo nigeria is a government agency established to centrally coordinate the management of nigeria s debt. The following are functions of nigerian debt management office dmo.
Domestic government debt structure, risk characteristics and. Nigeria is confronted with the issue of limited capital and has to resort to foreign debt in order to augment domestic savings, balance of payment deficits, and shortfall in revenue which induce continuous raise in the debt stock at an alarming rate. An empirical analysis of the impact of public debt. Fifteen years of uk partnership with nigeria on debt management. Central bank of nigeria cbn and debt management office were used. Pdf the effects of external debt management on sustainable. To ensure robust result is achieved, time series data from world development index wdi, central bank of nigeria cbn and debt management office were used.
Bonds offer circular debt management office nigeria. Good debt management practices that make positive impact on economic growth and national development, particularly in reducing debt stock and cost of public debt servicing in a manner that saves resources for investment in poverty reduction programs. This study examines how the use of budget deficits as an instrument of stabilization leads to the accumulation of external debt with the attending effects on growth in nigeria between 1970 and 2003. Zealand debt management office in 1988 and irelands national treasury. Pdf an empirical analysis of the impact of public debt. Specifically, the study evaluates the impact of debt refinancing, and measure the impacts of debt forgiveness and debt conversion scheme on the public debt profile of nigeria. Adding to the unpopularity of the debt, much of it by now. The effects of external debt management on sustainable economic. Nigerias rising public debt continues to be a cause for concern at. Nigerias government debt management practices are described in an. The deal agreed by nigerias creditors, united in the paris club, and the. The effects of external debt management on sustainable economic growth and development. Pdf this study examined the impact of debt management strategies on the nigerias public debt profile.
The debt management office, on january 15, 2020, held an interactive session with stakeholders on public debt to present its press release january 2020 fgn bond auction oversubscribed. An empirical analysis of the impact of public debt management. The debt management office dmo nigeria is a government agency established to centrally coordinate the management of nigerias debt. In the light of this, this study assesses the impact of public debt on external reserve in nigeria. The necessity for governments to borrow in order to finance deficit budgets has led to the development of external debt.