Tags : economy

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U.S. Sanctions Threaten Venezuela’s Economy As Maduro Eyes Next Move

Venezuelans braced for the deepening of a brutal economic crisis on Tuesday after the United States imposed sanctions sharply curbing the country’s vital oil exports, while the socialist government responded by refusing to load crude cargoes without payment. Venezuela’s President Nicolas Maduro attends a meeting with members of the Venezuelan diplomatic corp after their arrival […]Read More

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Free Float Would send Naira tumbling, Emefiele says

The nation’s current system of multiple exchange rates had produced the “most optimal results when compared with other emerging markets in recent times,” Emefiele told reporters Tuesday after a meeting of the Monetary Policy Committee. Emefiele was responding to criticism last week from Atiku Abubakar, the main opposition candidate in next month’s presidential election. Abubakar, […]Read More

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IMF Cuts Nigeria’s 2019 Growth Forecast To 2%.

Against the backdrop of the recent drop in global crude oil prices, the International Monetary Fund said on Monday that Nigeria’s economy would expand more slowly in 2019 than previously predicted. The IMF, in its World Economic Outlook Update, titled ‘A Weakening Global Expansion,’ revised down the country’s Gross Domestic Product projection for this year […]Read More