Nigeria’s external imbalance widens on increasing offshore borrowings

Portfolio inflow to emerging markets hit 5-month high at $40.8bn

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Nigeria’s ability to weather the storm from external shocks or sudden deterioration in economic conditions is waning as the country’s increasing appetite for foreign borrowings continues to outpace accretion to external reserves. Since the 2014 collapse in oil prices that caused the spread between the Federal Government’s actual and projected revenues to widen, the country…

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