June 8, 2016 by iMFdirect By Martin Sommer, Juan Treviño, and Neil Hickey The significant and prolonged drop in oil prices since mid-2014 has changed the fortunes of many energy-exporting nations around the world. This applies particularly to countries of the Middle East and Central Asia, because these regions are […]
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Nigeria plans to put up to $1.7 billion into capital projects in coming days
Wed Jun 8, 2016/Reuters Nigeria’s government will next week pump much of the 350 billion naira ($1.76 billion) earmarked for capital projects this quarter into Africa’s biggest economy, the budget minister said on Wednesday. The spending is part of efforts by the OPEC member to stimulate an economy that contracted […]
Nigeria naira quoted at 367 as dollar scarcity hits black market
Wed Jun 8, 2016/Reuters Nigeria’s naira was quoted at 367 on the black market on Wednesday, down 1.6 percent against the dollar as delays by the central bank in explaining how its new forex policy would work increased speculation on the currency. The naira traded at 199.40, within central bank’s […]
