At least 6 African countries have opted for IMF programmes ranging from Rapid Credit Facilities (Gambia) to Extended Credit Facilities (Ghana). This is because concessionary sovereign credits (0.5%- 1% pa) are fiscally more efficient than market debt.
Nigeria is currently over-stretched with debt service gulping no less than 68% of its independent revenues. Whilst national pride may preclude an IMF funding option, the economic reality suggests otherwise.
The good news is that inflation is declining, the naira has been relatively stable and there is noticeable expansion in manufacturing output and inventory levels.
In this edition of the LBS Executive Breakfast Club, Bismarck Rewane and the FDC Think Tank analyze burning issues and trends, and the implications on market performance and your business.
Enjoy your read….