Tutoring - Private Lessons in Nigeria
| Thursday, 21 April 2016 | |||
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International Monetary Fund (IMF) that could have seen a
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Abandoned and the foreign exchange mark
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Depending on how much Nigeria can raise from panda bonds — y
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| Wednesday, 20 April 2016 | |||
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Buhari secures China deals but Naira woes linger On April 20, 20164:01 pmIn News Co
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By Stephanie FINDLAY (AFP) Nigerian President Muhammadu Buhari
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boarded a plane to China. Welcomed by President Xi Jinping with a
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-gun salute, Buhari embarked on a five-day tour that saw him
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Smiling after securing a $6 billion (5. 3 billion euro) loan and a
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Buhari has been to more than 20 countries
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200 hours in the air have earned him a nickname — “Waka kick-start the flagging economy. His…
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President Muhammadu Buhari last week assembled one of the
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delegations of his presidency and boarded a plane to China.
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The currency deal as a result should ease demand for scarce
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Dollars by making it easier to settle trade deals in yuan.
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At the same time, the loan could help Buhari fund some
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infrastructure projects. Yet whether the Chinese agreements
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His goal of weaning the economy off its dependency on oil
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exports is another question. “To the extent that Nigeria’s import needs
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Chinese goods, an injection of yuan should help,” said Alan Cameron, an economist
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London-based Exotix. “However this does little to help economic
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Nigeria since most of what it buys from China are finished goods.
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whether Chinese support would be invested in projects
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That generate foreign exchange or reduce local demand for imports
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Welcomed by President Xi Jinping with a 21-gun salute, Buhari
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tour that saw him return to Nigeria smiling after securing a
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euro) loan and a currency swap deal. Buhari has been to more than 20 countries
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May last year, when he embarked on a mission to secure funds for an
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kick-start the flagging economy. His frequent trips
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200 hours in the air have earned him a nickname — “Waka
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Waka Buhari”, Nigerian pidgin for “always away”
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