By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE) – The International Monetary Fund (IMF) Wednesday said it has proposed a three-year SDR891 million (about €1 billion; or US$1.34 billion) loan for Cyprus; representing about 563 percent (563%) quota under the Extended Fund Facility (EFF) expected to be approved in May 2013. Christine […]
World News
Naira Advances to Week High as Central Bank Bolsters Reserves
The naira climbed the most in more than a week against the dollar on speculation that the central bank will continue to support the currency by dipping into its rising foreign reserves. The currency of Africa’s biggest oil producer advanced as much as 0.2 percent, before trading 0.1 percent stronger […]
Nigeria’s External Reserve Increase by 35% in 2012 end-IMF
By Richard ABANGWU InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s International Reserve has increased by 35 percent (35%) in year 2012 end. This is part of the International Monetary Fund’s (IMF’s) Executive Board Assessment on Nigeria after it concluded its 2012 Article IV consultation. According to the IMF, Nigeria’s external position has strengthened and […]
