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What Nigeria and other African countries should do to reduce increasing ‘JAPA’-IMF 

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Mr. Abebe Aemro Selassie

Mr. Abebe Aemro Selassie, Director, African Department, International Monetary Fund has said that Nigeria and other African countries ensure their economies are attractive to reduce the mass exodus of Africans to other parts of the world.

Selassie stated this at a press briefing on the Sub-Saharan Africa Regional Economic Outlook.

Selassie was speaking against the backdrop that those who are supposed to develop Africa are running away daily in their thousands to other parts of the world leading to the rising wave of brain drain.

Speaking on Nigeria’s debt Selassie said the most important cause of the pressures is the fact that the government doesn’t generate enough tax revenues for all the services it needs to provide.

He noted that interest payment as a share of revenues is very high and does not leave much room to spend on other issues.

Selassie noted that the IMF has seen reforms moving in the right direction in recent months.

 

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