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IMF
Africa will need over $110 Billion in extra funding to deal with the COVID-19 pandemic
The Covid-19 economic lockdown impacted negatively on investor inflow into Nigeria.
IMF warns that the reductions in GDP due to COVID-19 will widen inequality.
There has been growing pressure for the CBN to unify the exchange rate markets.
Even with lockdowns being partially eased, IMF warned that there could be an even worse decline.
Oil prices retreated further on Monday, with prices down more than 10% in less than a week.
A series of debt defaults will return Africa to the era of the 90s when poverty was rampant and nations defaulted on debt.
The naira made a rebound in the foreign exchange market as it gained against the dollar at the parallel market.
The Chinese have always done their lending on the idea that individual projects contribute to structural transformation and economic development.
As part of the FG efforts to diversify the economy away from volatile oil revenue, it inaugurated the Ajaokuta Presidential Project Implementation Team.
The Deputy Governor, Economic Policy CBN Kingsley Obiora, has taken over as the Chairman of the Board of Directors of the NEXIM.
On Thursday, investors were shocked to receive a Naira depreciation at the I&E window with July futures closing at N394/$1.