Tag
WORLD BANK
World Bank has projected that the remittances to Nigeria, Egypt, Senegal and other Low and Middle-income Countries (LMICs) would drop sharply by 19.7% to $445 billion in 2020
The dreaded Coronavirus pandemic is expected to drive Sub-Saharan Africa into its first recession in 25 years.
The coronavirus knows no boundaries, so governments across the world are struggling to protect their populations and their economies as best they can.
Nigeria is feeling the heat and that is because its sole dependence on oil has made it suffer a Twin Shock.
Emerging market economies could begin defaulting on their bonds in the coming weeks,this is due to the COVID-19 pandemic.
Latest data obtained from the CBN reveals that Nigeria paid a whopping sum of $4.45 billion as external debt service/payment in the first two months of 2020.
The IMF has expressed its readiness to mobilize $1 trillion lending capacity to help countries fight the coronavirus pandemic.
A bill for an act to criminalise the importation, selling and usage of generators in Nigeria scaled the first reading on the floor of the senate.
The World Bank and the IFC have expressed their interest in the development of the Akwa Ibom Free Trade Zone project.
Developing countries struggling with the spread of Coronavirus will receive financial support from the World Bank to battle the virus.
IMF and World Bank have announced that the meetings set for April 16-18 would be done in a virtual format due to the coronavirus epidemic.
Coronation Merchant Bank has partnered with IFC to a launch a N14.4 billion Trade Finance Guarantee Facility to boost financing for local businesses.