As five more COVID-19 cases were confirmed in Nigeria on Wednesday, the government swung into action and made some swift reforms which include the reduction of petrol pump price – a N1.5 trillion cut in the 2020 budget and a travel ban on 13 countries with high COVID-19 infection rates. The Central Bank of Nigeria also announced a N1.1 trillion intervention fund to boost the economy. Adeoye Adefulu, Partner at Odujinrin and Adefulu and Kola Masha, Managing Director of Babban Gona both join CNBC Africa to discuss how these moves would impact some key sectors of the Nigerian economy.
Ghana’s central bank has additional space to loosen policy thanks to the global move toward lower interest rates, as long as inflation slows, according to Governor Ernest Addison. He was interviewed by Bloomberg TV’s Manus Cranny st the World Economic Forum on Africa in Cape Town.
One week after Lebanon’s credit rating was cut deeper into junk territory by Fitch, the country’s central bank governor told Bloomberg they have secured new deposits from private investors overseas, boosting dollar reserves by up to $1.4 billion. Riad Salameh’s comments are likely to go some way toward reassuring investors increasingly worried that dwindling inflows of cash from abroad could undermine Lebanon’s ability to repay its debts and defend its currency. He spoke to Bloomberg’s Lin Noueihed in an exclusive interview in Beirut, Lebanon.
As waves of easy monetary policy wash over the world’s financial markets, some of euro-denominated high-yield bonds are now trading with a negative yield. But in a sign of increasing bifurcation between riskier and safer credits, some issuers had to offer chunky yields to draw investor interest, while others found heated demand. Bloomberg's Jonathan Ferro sat down with TD’s Priya Misra, JPMorgan’s Oksana Aronov and Robert Tipp of PGIM Fixed Income to discuss the outlook for high yield and investment grade credit.
Governor of Nigeria's Central Bank says the apex banks development finance efforts have been driven by the need to reduce reliance on crude as smuggling and dumping over the years have led to a demise of Agriculture. Obiora Madu, CEO of Multimix Group joins CNBC Africa to discuss some developments impacting Nigeria's non-oil exports.