* Reliance on dollar-based oil makes naira hard to gauge * Dwindling reserves reduce room to defend naira * Devaluation possible, not a one-way bet -analysts “What is a cynic?” asks Cecil Graham in the Oscar Wilde play “Lady Windermere’s Fan”. “A man who knows the price of everything and […]
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Transcript of a Conference Call on the Staff Discussion Note: “Redistribution, Inequality, and Growth”
Washington, D.C. Tuesday, February 26, 2014 IMF STAFF Jonathan Ostry, Deputy Director of the Research Department Andrew Berg, Assistant Director, Research Department Ismaila Dieng, Senior Communications Officer MR. DIENG: Thank you. Good morning everyone and welcome to this conference call on the release of the Staff Discussion Note: Redistribution, Inequality, […]
CBN’ll devalue naira in 18 months – Report
The Central Bank of Nigeria will devalue the naira within the next 18 months, a new report by the Nigeria-based Financial Derivatives Company Limited has indicated. The Managing Director, FDC, Mr. Bismarck Rewane, in the latest edition of its bi-monthly Business and Economic Update, noted that the nation’s external reserves […]