NIGERIA: OIL PRICE BUMP MAY NOT AVOID MANAGED CURRENCY DEPRECIATION

   Fri, 05 June 2020

A rebound in global oil prices has raised hopes among investors that Nigeria will not have to devalue its currency again, like it did at the time of the 2016 oil price drop. However, the country’s oil sector has barely recovered from the previous recession and other economic indicators point towards a growing need for another managed currency depreciation and further policy reform.

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