RE: USA Africa Dialogue Series - Fwd: [NIgerianWorldForum] Bloomberg article on PMB

If the Bloomberg Report (BR) is true, the Buhari government must be doing some things right.

The government needs to curb waste, by reducing/eliminating corruption and unproductive public spending, plug all leakages, and optimize fiscal efficiency, all of which should help to reduce the pressure for crude oil sales' revenues and mitigate the pain of their decline. It also need to increase public expenditure to support and drive domestic consumption and production.

Colombia and Russia can afford to further devalue their currencies. Their Peso and Ruble respectively have not been under-devalued. The Naira is arguably over devalued already.  Further devaluation of a much devalued currency of an import dependent country more likely has a net negative effect on the economy and especially the country's masses. It drains the country of purchasing power in international markets. It should always be considered and undertaken with great care.

The BR position was always predictable. It was always going to disapprove of governments that are people and not international capital flows' oriented. It tends to whip up hysteria against governments that have the above disposition.  

 

oa

 

 

 

From: usaafricadialogue@googlegroups.com [mailto:usaafricadialogue@googlegroups.com] On Behalf Of Oluwatoyin Adepoju
Sent: Saturday, November 28, 2015 7:19 AM
To: USAAfricaDialogue
Subject: USA Africa Dialogue Series - Fwd: [NIgerianWorldForum] Bloomberg article on PMB

 

 

---------- Forwarded message ----------
From: djcube102@yahoo.com [NIgerianWorldForum] <NIgerianWorldForum@yahoogroups.com>
Date: 28 November 2015 at 10:50

 

The shine is off Nigeria's new president.

Muhammadu Buhari's election earlier this year inspired a bounce in the country's stock market and invigorated investor confidence. But his slowness in announcing a cabinet, a record fine against South African mobile carrier MTN and plans to raise spending is turning investors off, write Paul Wallace and Michael Cohen in Bloomberg.

 

‎http://www.bloomberg.com/news/articles/2015-11-26/buhari-bounce-becomes-bust-as-nigeria-policies-annoy-investors  

 

Thank You‎
‎Uduak Umoh
Lekki, Lagos‎

 

__._,_.___

---

Posted by: djcube102@yahoo.com

---

Reply via web post

•

Reply to sender

•

Reply to group

•

Start a New Topic

•

Messages in this topic (1)

Visit Your Group

• Privacy • Unsubscribe • Terms of Use

 

.

__,_._,___

 

--
Listserv moderated by Toyin Falola, University of Texas at Austin
To post to this group, send an email to USAAfricaDialogue@googlegroups.com
To subscribe to this group, send an email to USAAfricaDialogue+subscribe@googlegroups.com
Current archives at http://groups.google.com/group/USAAfricaDialogue
Early archives at http://www.utexas.edu/conferences/africa/ads/index.html
---
You received this message because you are subscribed to the Google Groups "USA Africa Dialogue Series" group.
To unsubscribe from this group and stop receiving emails from it, send an email to usaafricadialogue+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.