Just as Niger is contending with its internal political stability, it is also confronting the challenge of a growing debt burden. On Monday, September 4, 2023, Ali Lamine Zeine, the Prime Minister of Niger's transitional government, revealed that the nation's total debt has reached 5.200 billion CFA francs.
Offering a breakdown of the country's debt situation, the Prime Minister declared that Niger's external debt has now surged to 3.200 billion CFA francs, marking a substantial rise compared to the less than 300 billion CFA francs it possessed in 2010.
For the country’s internal debt, the Nigerien leader explained that it now amounts to less than 2,000 billion, in contrast to the 16 billion CFA francs recorded in 2010. This brings Niger's total debt to 5.200 billion CFA francs, Nigerien Press Agency reported.
Confronted with this challenging situation, Niger's new government is exploring two potential solutions. The first, as highlighted by the Head of Government, involves amending the finance law, currently in the preparation stage, to accommodate new requirements and pave the way for the 2024 finance law.
The second solution is the implementation of the "Resilience Program for the Protection of the Homeland," a comprehensive initiative designed to address the diverse needs of the Nigerien population. This program aims to guide the country towards recovery from the present predicament, while considering the unjust, illegal, inhumane, and unacceptable embargo imposed on Niger.
Lamine Zeine stated that the country's defense and security forces have been diligently working for over a month to ensure the safety of the territory, protect the well-being of its citizens, and safeguard their property. He also celebrated the recent victory achieved by the military against terrorist elements.
Regarding the upcoming school year, he assured that all necessary measures have been put in place to ensure a successful start to the academic year at all levels.
Business Insider earlier reported that the military leadership of the country has reopened the nation's airspace for all commercial flights. This decision comes after the airspace had been closed since August 6, following their seizure of power in a coup.