International Monetary Fund has said inflation, debt, and forex crisis is pushing the Nigerian economy and other African economies to the brink.
She added that most countries on the continent could raise money from the global financial markets and do not have large domestic markets to turn to. “The effect of higher food prices is being felt acutely as food accounts for a higher share of income. Inflation, fiscal, debt and balance of payments pressures are all intensifying. Most are now completely shut out from global financial markets; and unlike other regions don’t have large domestic markets to turn to.
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