January 31, 2023/FBNQuest Research The Debt Management Office’s (DMO) latest quarterly release shows that the FG’s domestic debt service increased by NGN12bn, or 2% y/y to NGN821bn in Q3 ’22. Despite the modest rate of increase, debt-service payments during the quarter were the highest in recent times, as shown in […]
OPINION/EDITORIAL
Global Economy to Slow Further Amid Signs of Resilience and China Re-opening
(Credit: IMF and Adobe Stock) January 31, 2023/IMFBlog By Pierre-Olivier Gourinchas The global economy is poised to slow this year, before rebounding next year. Growth will remain weak by historical standards, as the fight against inflation and Russia’s war in Ukraine weigh on activity. Despite these headwinds, the outlook is less gloomy […]
Moody’s Downgrade: Fiscal Path Dependent on Election Outcome
January 30, 2023/Cordros Report On Friday, 27 January, Moody’s Investors Service (“Moody’s”) downgraded Nigeria’s sovereign credit rating further to ‘Caa1’ from ‘B3’ and changed the outlook to ‘Stable’. We note that obligations rated ‘Caa1’ are judged to be of poor standing and are subject to very high credit risk. Accordingly, […]
