Author: The Editorial Team

LAGOS (Capital Markets in Africa) — Nigeria’s government disagrees with the International Monetary Fund’s recommendations that it further marks down its currency that’s more than 18% overvalued to ease external imbalances, the Washington-based lender said. President Muhammadu Buhari’s administration sees currency pressures stemming from global outflows caused by the coronavirus pandemic and believes another depreciation would add to double-digit inflation, according to the IMF’s Article IV report for the country that was published Monday. The disagreement underscores…

NEW YORK (Capital Markets in Africa) — Jerome Powell doesn’t want to talk about scaling back massive Federal Reserve asset purchases — at least not yet — but it’s only a question of time before the discussion resumes and that might not be a bad thing. The Fed chair told reporters on Jan. 27 that “the whole focus on exit is premature” — a clear call to his colleagues to focus on the economic damage…