Nigeria: Avoiding the Pitfalls of Economic Recession

29 May 2016

Amid the fear of imminent recession, the monetary policy committee of the Central Bank of Nigeria has moved to buoy the economy, necessitating the adoption of flexible foreign exchange regime and leaving the rates unchanged. Kunle Aderinokun, Olaseni Durojaiye and James Emejo write that the development has rekindled the hope of economic recovery

The 255th meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), which ended in Abuja last Tuesday is significant for a number of reasons. One, the decision of the committee to adopt a flexible foreign exchange rate regime, albeit with a "small window for critical transaction" after rebuffing several calls to that effect, will continue to generate discussion, perhaps until details of the window is made public.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.