South-East Fiscal Reality: Debt Discipline or Hidden Risk Migration?
The subnational debt data for the five South-East states, Abia, Anambra, Ebonyi, Enugu, and Imo, between June and December 2025 reveals more than a set of fiscal adjustments. It reflects an evolving Public Financial Management landscape in which debt behaviour is increasingly shaped by macroeconomic constraints, institutional capacity, governance incentives,…