Egypt devaluation yields first fruits, as Nigeria flounders

by | November 14, 2016 3:39 am

Egypt is cracking a tough nut that Nigeria is breaking its teeth on. Barely two weeks after devaluing its currency against the dollar, Egypt has now secured $2 billion in financing from international banks, while the first $2.75 billion tranche of an IMF loan worth $12 billion is due Tuesday, Nov.15. Nigeria, on the other…

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