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A law student is set to face a disciplinary panel after receiving a query for drinking water from a bottle at a law dinner.
According to the query letter sent by authorities of the Lagos campus of the Nigerian Law school, the student violated Rule 6 (29) of the Code of Conduct for Students of the Nigeria law school on dinner etiquette and manners.
See a copy of the letter as shared by Twitter user below;
35-year-old actor, Michael B. Jordan has scrubbed Lori Harvey clean from his Instagram, exactly two weeks after she erased every trace of their relationship from her own account.
The duo who began dating since fall 2021, ended their relationship in June. Before Lori removed all traces of Jordan from her Instagram feed, Jordan still had photos on his account of him and Harvey stepping out for Vanity Fair‘s Oscars After-Party, where they made their red carpet debut in March, as well as a photo from February of Harvey sporting an all-white look that he captioned, “I love her .”
The model’s father, “Family Feud” host Steve Harvey, confirmed the two broke up via his morning radio show on June 6.
Steve said;
“Look, as long as everyone can walk away in peace, be friends … I ain’t heard nobody say they busted no windows or nothing.
“As long as you don’t put your hands on my daughter, I don’t give a damn what you do.”
Steve did hint, however, that dating in the public eye may have contributed to the couple’s demise. He also said that he still has love for the “Black Panther” star.
He added;
“He’s still a cool guy, you know, from what I know. It’s a breakup. I’m pretty sure they’ll be fine. People break up all the time.”
On Sunday June 20, Jordan was seen enjoying a night out as a newly single man at West Hollywood’s Delilah nightclub. He was photographed flashing a peace sign from behind the wheel as he arrived at the venue, wearing a white tank top and silver chain necklace.
Barely 24 hours after the police summoned Portable for questioning over an alleged assault, the singer’s driver has reportedly crushed a commercial motorcyclist to death in Ogun State.
The singer was said to have sent his driver on an errand on Tuesday June 21, when the incident occurred. The victim of the accident which occurred at Iyana Ilogbo along Lagos-Abeokuta expressway, reportedly died while he was being rushed to the hospital.
The naming ceremony of the singer’s baby also took place on Tuesday. Police Spokesman in the state, Abimbola Oyeyemi, confirmed the incident but said it was a case of accident.
He said;
“The accident occurred at Ilogbo area in Ogun state where one of Portable’s aides hit a motorcyclist and the man did not survive as he died on his way to the hospital.
“We are not sure if the driver in question was drunk or not”
The police had on Monday June 20, ordered Portable to immediately report himself at the nearest police post or be arrested. This followed a case of an alleged assault on his former Disc Jockey, simply identified as DJ Chicke.
Disgraced American stand-up comedian/actor, Bill Cosby sexually assaulted a teenager at the Playboy Mansion in Los Angeles in 1975, a jury has found.
The victim, Judy Huth testified to the civil trial that Cosby, 84, had forced her to perform a sex act on him at the venue when she was 16 years old.
Jurors in Los Angeles County ruled in favor of Judy Huth, who is now 64, awarding her $500,000 in a legal defeat for the once-beloved comedian and star of The Cosby Show.
Jurors found that Cosby intentionally caused harmful sexual contact with Huth, who he reasonably believed was under 18, and that his conduct was driven by unnatural or abnormal sexual interest in a minor.
In court filings and in testimony at the trial, Huth said she and a friend met Cosby at a park, and that the actor later took her and her friend to the Playboy Mansion. She testified that Cosby, who was 37 at the time, assaulted her, forcing her to perform a sex act without her consent, a claim the actor has denied.
Huth, who first filed a lawsuit against Cosby in 2014, initially said the incident took place in 1974 when she was 15, but later concluded she was mistaken about the year and that it happened in 1975.
The decision brings to a close one of the final remaining legal claims against 84-year-old Cosby, who more than 50 women have accused of sexual assaults over nearly five decades.
Less than a year ago, Cosby walked free from prison after his sexual assault conviction was thrown out after more than 50 women came forward with abuse allegations against the man once known as America’s Dad, charges he denies.
The civil case against Cosby in Santa Monica, California, was the first to go to trial and represented one of the last remaining legal actions against him. Filed in 2014, it was delayed for years by Cosby’s criminal proceedings.
Ms. Huth’s suit alleged that he brought her and another underage friend to the infamous mansion, lured her to a bedoom, and forced himself on her. When she resisted, he forced her to perform a sex act on him, she testified.
In tears on the stand, Ms. Huth told the court she felt “mad, duped and foolish” after the incident, as her lawyers presented a photo of her and Cosby inside the mansion.
Cosby was not required to appear in person at the trial and never did, but the court saw a 2015 deposition by Ms Huth’s attorneys, in which the comedian said he did not remember her and would not have pursued sex with a minor.
Lawyers for Cosby sought to poke holes in Ms Huth’s claims, noting she had initially said she was 15 at the time of the incident, but changed that detail weeks before the trial.
They claimed Ms Huth had offered her photo with Cosby to tabloids and others in search of a payout.
Jurors were also shown a videotaped 2016 deposition of late Playboy founder Hugh Hefner – a close friend of Cosby in the 1970s – who said it would have been “very unusual” for underage girls to be allowed inside the mansion.
Known to millions for his portrayal of TV dad Cliff Huxtable on The Cosby Show, the comic has faced accusations of sexual assault, misconduct and rape stretching back to the mid-1960s.
In 2018, he was convicted of drugging and molesting a woman at his home in 2004 and sentenced to three to 10 years in prison.
The conviction, however, was overturned by the Pennsylvania Supreme Court last year. He was released from prison after serving nearly three years.
Taiwan scrambled jets to warn away 29 Chinese aircraft in its air defence zone, including bombers that flew south of the island and into the Pacific, in the latest uptick in tensions and largest incursion since late May.
Taiwan, which China claims as its own territory despite never being ruled by China in 70 years, has complained in recent years of repeated incursions by the Chinese air force near the democratically governed island, often in the southwestern part of its air defense identification zone, or ADIZ.
Taiwan calls China’s repeated nearby military activities “grey zone” warfare, designed to wear out Taiwanese forces by making them repeatedly scramble, and also to test Taiwanese response to military incursions.
The latest Chinese mission on Tuesday, June 21 included 17 fighters and six H-6 bombers, as well as electronic warfare, early warning, antisubmarine and aerial refueling aircraft, Taiwan’s defense ministry said.
The bombers, accompanied by an electronic warfare and an intelligence gathering aircraft, flew into the Bashi Channel, which separates Taiwan from the Philippines and into the Pacific, before turning back to China on the same route.
Taiwan sent combat aircraft to warn away the Chinese aircraft, while missile systems monitored them, the ministry said.
It was the largest incursion since Taiwan reported 30 Chinese aircraft in its ADIZ on May 30. The largest to date this year occurred on Jan. 23, involving 39 aircraft.
Taiwan Foreign Minister Joseph Wu said on Wednesday the large-scale exercise by the Chinese military showed China’s military threat is “more serious than ever”.
“But there’s no way #Taiwan will cave in & surrender its sovereignty & democracy to the big bully. Not a chance!,” Wu said on Twitter.
China’s military said last month it had conducted an exercise around Taiwan as a “solemn warning” against its “collusion” with the United States.
Last month U.S. President Joe Biden angered China by saying the United States would get involved militarily if China were to attack the island.
The Presidential Candidate of the ruling All Progressives Congress, APC, Asiwaju Bola Ahmed Tinubu, has revealed that he turned to God in prayers, when he perceived that there was a gang-up against him and his ambition to be president (Vanguard news).
The APC National Leader who made this revelation during his homecoming visit to the Oba of Lagos, Rilwan Akiolu, recently, noted that the battle to secure the APC ticket was hard.
According to Tinubu: “When I was almost fed up, I resorted to prayers. I also poured out my mind when I felt there was a gang-up against my person.” The APC candidate who also alluded to the fact that Lagos indigenes have never had the opportunity to become president, noted that he took up the fight to change the narrative.
Nevertheless, Tinubu acknowledged that the major challenge ahead, was now to get Nigerians to vote him as president in the 2023 general elections.
A Nigerian televangelist, senior pastor and the founder of Household of God Church International Ministries, Christopher Oghenebrorie Okotie known as Rev. Chris Okotie has asked other aspirants to step down for him, that it his turn to Succeed president Muhammadu Buhari.
Addressing journalists at his Church in Oregun, Ikeja while celebrating his 63rd birthday anniversary, Okotie said he is the right person to correct the wrongs in the country.
Okotie appealed to all presidential candidates to withdraw from the race and allow him to come in as the interim president. He asked Bola Ahmed Tinubu to support his government for the betterment of the country.
He told Peter Obi that the system that introduced him cannot take him anywhere, because he cannot operate in the system we have now.
Okotie said if he becomes president, his government will be a transparent one and he will empower youths who are into internet fraud. He said he will provide funds to youths who are technology inclined. Okotie said his government will be that of National Reconciliation and Reconstruction.
He finally appealed to all the presidential candidates to support him to succeed President Buhari as the interim president.
Real Madrid may have done the biggest transfers of the season so far, and many fans would be waiting eagerly to see how they lineup In their first La Liga game of the season.
Below is how we feel Madrid should lineup in their first match with their new players and transfer targets.
Formation; 4-3-3.
The coming in of Anthony Rudiger, and Aurelio Tchouameni, is a major boost to the team and they will be looking to have a very good squad rotation next season.
They have been continually linked with more players and fans would be happy to see them (new players) join.
Real Madrid defeated Liverpool last season in the finals of the UEFA Champions League to win their 14th UCL trophy and they will be hoping to continue with their superb form in the coming season.
There many Nigerian players that switched their international allegiance to different countries. Some is as a result of place of birth while others do it purposely. One of them is Sheyi Emmanuel Adebayor. He is a Togolese professional footballer who plays as a striker. He previously played for English clubs Arsenal, Manchester City, Tottenham Hotspur and Crystal Palace.
He represented the Togo national team at the 2006 FIFA World Cup in Germany. In 2013, he returned to the Togo team for the 2013 African Cup of Nations in South Africa, where he helped them to qualify for the quarter-finals. He is currently Togo’s all-time top goal scorer with 32 goals.
In 2008, he was voted African Footballer of the Year while playing at Arsenal. During his latter career, he became the most iconic signing in Paraguayan football and the highest paid player in the country’s history when he joined Olimpia Asunción in 2020.
He was born in Lome to Nigerian parents who are Yoruba by tribe. He was also eligible to play for Nigeria but chose to represent the country of his birth, Togo.
The Presidential candidate of the All Progressive Congress, APC party, Bola Ahmed Tinubu has disclosed that Masari Kabiru was nominated as his running mate after due consultations were made contrary to the speculations that he was picked as a placeholder. He also mentioned that if Kabiru decides to step down within the time frame, it wouldn’t be a breach of any kind.
Tinubu made the statement while reacting to speculations making rounds that the presidential candidates picked the names of their running mates as placeholders to bit the Independent National Electoral Commission, INEC‘s June 17th deadline.
Tinubu also stated that consultations were still ongoing and should his running mate, Kaburu decides to step down within the speculated time frame allowed by the law, it wouldn’t be a breach of the law at all.
However, INEC has issued a statement saying the idea of the placeholder is a Nigerian factor that doesn’t have a place or recognition within the law.
Lifeless body of a young woman who is yet to be identified has been found in Kubwa, Federal Capital Territory, Abuja.
A heartbreaking pictures revealed that the young woman was butchered and dumped among refuse waste.
Details of the incident are still sketchy but residents of the area said they don’t know who dumped the body.
The body was discovered in the early hours of today, June 20, one of the eyewitnesses said, adding that the young lady might be a prostitute.
The eyewitness also suggested that the young woman might be used for rituals by one of her customers.
Beware of graphic content, see more pictures below…
We have gathered for all BBN fans, who didn’t follow the just concluded reunion show, some crucial revelations made (by your favourites) regarding certain issues that has stirred huge reactions on the internet before now.
Check them out;
Relationship
It is no news that Emmanuel and Liquorose have gone their separate, but the surprising thing was the reason for their break up.
This is to say that, Liquorose revealed during the show, “That she walked in on Emmanuel with a girl in a room and lights were off.”
This is coming after Ebuka Obi-Uchendu started an episode of the show by running the housemates a clip featuring Emmanuel and Angel, in what looked like a flirtatious moment.
Moreover, Boma also claimed that the reason why he went after Tega knowing full well that she was a married woman (as asked by Ebuka) was that: “He knew what no other housemate knew and that was the fact that she was separated.”
Strategy
It will surprise many fans to know that, majority of the housemates claimed that Whitemoney was the most scripted housemate, after Ebuka had asked them to write on a board the most ‘scripted’ contestant.
Majority of the housemates including Queen, JMK and Beatrice wrote down the name of the winner of the show, Whitemoney.
Beatrice explaining why she wrote down Whitemoney said that during the show, “he used to care about everyone, check on them especially when anyone is sick, but after the show, he was nowhere to be found.
He stopped checking up on people and was never available for anyone. It felt all that he did in the house was just strategy.”
JMK explaining why she wrote down Whitemoney agreed with the reasons Beatrice dropped. According to her, “WhiteMoney after the show stopped caring about others.”
She added that “no matter how busy a person was, he or she still has time to check up on people they care about.”
Queen on the other hand stated that “Whitemoney totally changed after the show.”
According to her, “during the show, they used to be very close but after the show, he became a different person,” among others.
In reaction to these allegations, the season 7 winner said he had warned the housemates that he won’t reach out to people who don’t do same to him.
Meanwhile, Tega agreed to Boma’s aforementioned statement and also claimed that; “Maintaining the status of a married woman was only a strategy in the house.”
President Muhammadu Buhari has directed the Nigeria Football Federation(NFF) to immediately commence the process that will lead to elections into its executive committee at the expiration of the current administration in September.
Buhari also directed that the instrument of football administration in the country, the NFF Statutes, be amended to include other stakeholders, who had hitherto been disenfranchised or denied equal representation in the NFF congress.
In a letter addressed to NFF President, Amaju Pinnick, dated June 17, 2022 and signed by Youth and Sports Development Minister, Sunday Dare, Buhari, who reinforced the Federal Government’s support for football development in the country, urged the leadership of the NFF to ensure that the amended statutes reflect the national yearnings, aspirations and peculiarities of Nigeria as a sovereign nation, while aligning with the principles and objectives of football as set by the world soccer governing body, FIFA.
Meanwhile, a former chairman of the Gombe State Football Association, Alhaji Ahmed Shuaibu Gara Gombe, has appealed to interested persons eyeing the NFF presidency in the September elections to exercise restraint.
About five aspirants, comprising one administrator and former Nigeria internationals, have so far indicated an interest in the NFF top job.
“I think it is rather too early for such declaration to be made by anyone yet. There is the issue of statute that has not been sorted while the NFF Congress will still have to seat and draw out the electoral guidelines as well as announce the election date,” he said.
According to Gara Gombe, “Whatever anyone is doing at this time with regard to the election is hasty and it cannot amount to anything tangible at least for now.”
There are reports that the former Gombe FA chairman has been encouraged by some football stakeholders, including politicians, civil servants, diplomats, and key figures in Corporate Nigeria to declare interest in the NFF top job.
Hollywood actor and director, Ben Stiller met with Ukraine President Volodymyr Zelensky in Kyiv on Monday June 21st.
He visited Ukraine as a UNHCR Goodwill Ambassador and met with Zelensky after touring occupied settlements in the Kyiv region, the Ukraine leader’s official website said in a press release.
In a video posted on Twitter, Stiller and Zelensky warmly greeted one another before they sat down to discuss the suffering of refugees in the war-torn country displaced by an invasion by Russia and its military.
“You’re my hero!” a beaming Stiller said at one point as his visit marked World Refugee Day.
Stiller was accompanied by UNHCR representative in Ukraine Karolina Lindholm Billing, who accompanied the Hollywood actor as he walked through ruined residential areas of Irpin, where they talked to people who survived the occupation.
“It’s one thing to see this destruction on TV or on social networks. Another thing is to see it all with your own eyes. That’s a lot more shocking,” Stiller told Zelensky.
“What you saw in Irpin is definitely dreadful. But it is even worse to just imagine what is happening in the settlements that are still under temporary occupation in the east,” Zelensky said in response.
Zelensky also emphasized the violation of the rights of Ukrainians forcibly deported to Russia, including children.
In late February, Russian President Vladimir Putin launched a military invasion in Ukraine, which has since escalated into a global crisis.
UK prime minister Boris Johnson underwent a scheduled operation on his sinuses on Monday morning, June 20, Downing Street has said.
It was described as a “very minor routine operation” under general anesthetic at a London hospital.
Mr. Johnson, who turned 58 on Sunday, is resting at home and is planning to chair Tuesday morning’s Cabinet meeting and travel to a gathering of Commonwealth leaders in Rwanda later this week.
“He went to hospital around 6am and the operation was carried out first thing this morning,” the prime minister’s official spokesman said. “He was back in Downing Street shortly after 10am.”
Asked how Mr. Johnson was feeling, the spokesman said he had not spoken to him since his return to his official residence but that he was resting there.
The timing of Mr. Johnson’s return to work would depend on how he feels, said the spokesman.
Asked who was in charge of the UK nuclear accounts during the procedure, the spokesman said Deputy Prime Minister Dominic Raab and Cabinet Secretary Simon Case were aware in advance and that Mr. Johnson was under for a “relatively brief time”.
Procedures were in place so that any significant decisions could be deferred to Mr. Raab before Mr. Johnson resumed duties, the spokesman said.
The operation was by the UK’s state-funded National Health Service and was scheduled “for a while”, he said, without specifying at which hospital it took place.
Mr. Johnson’s sinus issue was not said to be related to his Covid illness two years ago.
The prime minister spent several days in hospital intensive care in April 2020 after contracting Covid, calling it “a tough old moment” that “could have gone either way”.
Russian-born tennis player, Natela Dzalamidze has changed her nationality to Georgian to avoid the ban Wimbledon imposed on all Russian players following the country’s invasion of Ukraine.
The doubles specialist, ranked No. 43 in the world, is now officially listed as having Georgian nationality on the WTA website and is eligible to compete with doubles partner Aleksandra Kruni? of Serbia when Wimbledon gets underway on June 27, according to CNN.
This comes after Wimbledon announced the ban on all Russian and Belarusian athletes back in April
Some of tennis’ biggest stars, including men’s world No. 1 Daniil Medvedev and women’s world No. 6 Aryna Sabalenka, will not be competing at SW19.
In a statement published by The Times, a Wimbledon spokesperson said they were unable to stop Dzalamidze, who competed under the neutral flag at the French Open, from changing her nationality.
“Player nationality, defined as the flag they play under at professional events, is an agreed process that is governed by the Tours and the ITF,” the spokesperson said.
The ban on Russian and Belarusian players has divided the tennis world, and last week, the US Open announced that it would not be following Wimbledon’s example later this year, with players from both countries eligible to compete under a neutral flag.
Justice Mobolaji Olajuwon of the Federal High Court in Abuja has stopped the Independent National Electoral Commission from ending voter registration on June 30, 2022.
She gave the order of interim injunction following the hearing of an argument on motion exparte by Socio-Economic Rights and Accountability Project. SERAP and 185 concerned Nigerians had earlier in the month filed the lawsuit against INEC asking the court to “declare unconstitutional, illegal, and incompatible with international standards the failure of the electoral body to extend the deadline for voter registration to allow eligible Nigerians to exercise their rights.”
In the suit, SERAP had asked the court for “an order restraining INEC, its agents, privies, assigns, or any other person(s) claiming through it from discontinuing the continuous voters’ registration exercise from the 30th June 2022 or any other date pending the hearing and determination of the motion on notice.”
The suit is adjourned to 29th June, 2022 for the hearing of the Motion on Notice for interlocutory injunction.
The suit followed the decision by INEC to extend the deadline for the conduct of primaries by political parties by six days, from June 3 to June 9. But the commission failed to also extend the online pre-registration which ended May 30 2022 and the Continuous Voter Registration ending June 30, 2022.
In the suit number FHC/L/CS/1034/2022 filed at the Federal High Court, Lagos, and transferred to Abuja, SERAP said
“Voters are also critical stakeholders in the electoral process. Treating all eligible Nigerian voters fairly would advance the people’s right to vote and to participate in their own government. INEC must not only be independent and impartial in the exercise of its constitutional and statutory responsibilities, but must also be seen to be independent and impartial.
Extending the voter registration exercise would also bolster voter confidence in the electoral process. One of the people’s most sacred rights is the right to vote. The commission has a constitutional and statutory responsibility to ensure the effective exercise of the right of all eligible voters to participate in their own government.
Extending the deadline for party primaries without providing adequate time and opportunity for eligible voters to register and participate in the 2023 general elections would amount to an unfair and discriminatory treatment of Nigerian voters, and violate other human rights.
Extending the voter registration deadline would provide more time for eligible voters, including young people, the elderly, people living with disability, as well as those resident in states facing security challenges and living in IDP camps to participate in the 2023 elections.
Extending the deadline for voter registration would be entirely consistent with constitutional and international standards, and the Electoral Act. Any such extension would also not impact negatively on INEC’s election calendar and activities.
The public perception of the independence and impartiality of INEC is essential for building public confidence in the electoral process, and ensuring the credibility and legitimacy of the 2023 elections.
Where Nigerians have doubts about the independence and impartiality of INEC, they are more likely to have less confidence in the electoral process thereby undermining democracy.
Extending the deadline for voter registration would also be justified, given reports of challenges in the voter registration exercise, especially for young people, the elderly, persons living with disabilities, and those resident in states facing security challenges and living in internally displaced persons camps.”
Former Real Madrid right-back, Cicinho has revealed he used to turn up for training drunk while suffering from alcoholism.
Cicinho spent two years at the Bernabeu after completing a move from Brazilian side Sao Paulo in 2005, featuring 32 times for Real and collecting a La Liga winners’ medal in 2007.
In an interview with EPTV show Ressaca, via Goal, the ex-Brazil spoke candidly about his struggle with alcoholism over the past decade. He also recalled arriving for training during his time in Madrid while intoxicated.
‘If you ask me if I’ve ever been to training drunk at Real: yes. And I drank coffee to remove the smell from my breath and bathed in perfume.’
‘Speaking of my profession, as a former professional football player, it was easy, I didn’t need money to get [drink]. People were happy to give you everything in restaurants.’
He departed for Roma that summer after falling out of favour under new boss Bernd Schuster due to his problems off the pitch. At Roma, his battle with alcoholism continued.
The 41-year-old admits he also attended training with Giallorossi drunk, although club officials were quicker to notice this time around.
Speaking about his time in Rome, Cicinho said: ‘Started drinking after training. I did the physiotherapy work, came home around 2 p.m., 2.30 p.m., and only stopped drinking at 4 a.m.
‘Every time I arrived at Roma drunk, the leaders saw it and that made me fall into disrepute.’
Cicinho, who spent five years with Roma before later enjoying stints in Turkey and back in Brazil, first starting drinking as a teenager and soon found himself on a slippery slope.
‘At 13 years old, when I tasted alcohol for the first time, I never stopped,’ he said.
‘I lived in the countryside, in Pradopolis, close to Ribeirao Preto, and on weekends we gathered friends and used to go out in the squares, to the clubs.
‘There was a bar nearby, because I was a minor, I tried to hide it, I asked whoever was older to buy it and I kept drinking hidden from my parents, the police.’
Antonio Rudiger has been officially unveiled as a Real Madrid player after leaving Chelsea.
The German centre-back agreed on a four-year deal at the Bernabeu after leaving the Blues at the end of his contract.
Earlier in the day, the 29-year-old completed his medical at the Sanitas La Moraleja University Hospital.
It has been revealed that Rudiger will wear number 22 at Real Madrid, which is newly vacant following Isco’s departure this summer.
‘It’s a very special day for all of us, but especially for me,’ the defender told reporters at his unveiling.
‘I would like to thank my parents, because without them I could not be here. They have always supported me and that throughout my life has been very very important.
‘I also want to thank the president of Real Madrid for giving me the opportunity to play for this great club. I can promise you that I will give everything for this club. I want to win as many titles as we can. Hala Madrid and nothing else!’
Rudiger also confirmed that Barcelona showed an interest in signing him, but he told his brother, who is his agent and advisor, that it was ‘Real Madrid or nothing’.
The club’s president Florentino Perez added: ‘Today one of the best defenders in the world arrives at Real Madrid. Antonio, from now on you are part of a unique club and family.
‘We are very excited to have a player like you who has done everything possible to make this day come.
‘Your career allowed you to choose between the big clubs and you have chosen for this shield, that will give you the strength to achieve what others believe is impossible.’
Rudiger’s contract with the LaLiga side will be worth in the region of £315,000-per-week and he will also net a hefty signing-on fee.
he World Bank Group has said that public debt in Nigeria and other low- and middle-income countries is now at a 50-year high, which is equivalent to more than 200 per cent of government revenues.
According to a new report titled, “Raising the Bar on Debt Transparency,” released by the bank, the pandemic-induced economic slowdown, the impact of the war in Ukraine and the rise of interest rates, many countries were facing severe challenges in servicing their debts.
The report read in part
“Total public debt stands at an alarming 50-year high in low- and middle-income economies, the equivalent of more than 200 percent of government revenues.”
According to the World Bank’s recent International Debt Statistics 2022 report, as a result of COVID-19, the external debt burden of the world’s low-income countries rose by 12 per cent to a record $860 billion in 2020 —the fastest accumulation since World War II.
According to the report, despite the unprecedented debt burden many governments were facing, the true extent of their public debt liabilities was often hard to quantify. In fact, many low- and middle-income countries would not disclose timely debt data or at times published incomplete data that understated the true level of liabilities, the report further said.
The report mentioned that Global surveillance was also hampered by the opacity of several domestic debt markets, the increased use of central bank repurchase agreements or currency swaps that were not included in government debt statistics and a proliferation of borrowing by state-owned and private sector entities with explicit or implicit government guarantee.
The report further said that debt transparency was critical for attaining sustainable financing and achieving macro-financial stability. It would facilitate new an high-quality investment, reduce corruption, and instill accountability, it noted.
The report stressed that comprehensive debt data would enhance the international community’s ability to help avoid debt crises or support countries when they occurred.
“Raising the Bar on Debt Data Transparency’ was the subject of a recent panel discussion, co-hosted by the World Bank Group Chief Economist and the Executive Director for Japan at the World Bank. The event brought together a panel of experts from borrower and creditor countries, academia, and the World Bank, who discussed ongoing efforts and concrete actions to support debt data transparency” it said
