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DMO, World Bank partner on states debt management laws

Share Debt Management Office (DMO) and the World Bank on Wednesday presented Guidelines for the Legal Framework for state governments’ debt management operations as a way to push to make debts more sustainable. Speaking at the virtual meeting, Director General of DMO, Ms Patience Oniha said debt management laws at the sub-national level would guide officials on the processes and limits of borrowing. “We have a DMO Act, a set of laws which governs our operations. We want them to have those laws. “DMO cannot just say we want to borrow. There are practices that have to be complied with. ”

DMO, W/Bank push states debt management laws

DMO, W/Bank push states debt management laws
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Breaking News | DMO, World Bank Push States Debt Management Laws

Views: Visits 8 As complaint states get W/Bank grants DMO Explains states’ debt sustainability Emma Ujah – Abuja The Debt Management Office (DMO) and the World Bank have presented Guidelines for the Legal Framework for state governments’ debt management operations, in a push to make their debts more sustainable. Yesterday’s engagement where the duo presented the guidelines, virtually, was part of the implementation of the States Fiscal Transparency, Accountability and Sustainability (SFTAS) Program. The Programme which is a collaboration between the World Bank, the Federal Government of Nigeria and the thirty-six (36) State Governments towards the achievement of the Disbursement-Linked Indicator (DLI)-7 on, strengthened public Debt management and fiscal responsibility framework.

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