The country’s leading economists have warned the government against tapping the international bond market with only
Independent economists who gathered in Q-Block – the seat of the finance ministry¿ under the umbrella of the
The issue came up for discussion when an upbeat Finance Minister
The minister, who is also chairman of the EAC, said that historically the reserves of commercial banks were treated as part of the total. Economists including Dr
The federal government is planning to float Euro bonds next month to raise money aimed at building foreign currency reserves, which dropped to a 13-year low of
Foreign investors will critically evaluate the payback capacity of the government, though, like any sovereign country
By the end of
The members of the EAC appeared dejected and marginalised during the second meeting of the EAC, as they were not clear about why the government constituted the EAC and what role they would have to perform. Dr
In the second meeting, economic experts were expecting that they would be asked to give their input on specific issues, according to a participant of the meeting who requested anonymity. During both meetings, most of the time was consumed by government officials and members, he added.
Finance Secretary Dr
It seemed that economists were sitting in a
The EAC members also urged the government to strengthen the country’s debt management office and appoint an independent but professionally sound person as its head, unlike the previous Director General Debt who worked more for protecting the interests of his previous bosses than for the state.
The EAC members advised the government to ensure authenticity of the official statistics, as the latest figures of growth in Large Scale Manufacturing (LSM) were contrary to growth trends observed in recent months.
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