Global dairy prices have risen nearly 17 % in four weeks, an encouraging sign for a sector beleaguered
globally by low prices and growing stockpiles of cheese and milk powder.
Not exact matches
The velocity of the move will be based on the movement of the dollar in conjunction with other major global currencies; A fast move higher in the U.S. dollar will force the
price of crude
lower quickly (crude is denominated in dollars
globally) and force selling
by those who need capital.
Already Buhari has started giving excuses for the abysmal performance.He attributed the quagmire to drop in the
price of oil
globally and cleverly laid the blame on the doorsteps of all Nigerian accusing them of relying solely on oil.All renowned rating agencies including fitch continue to downgrade Nigeria ever since Buhari took over and it is projected that Nigeria will not be able to repay its debt obligations.Fitch for instance downgraded Nigeria's longterm foreign currency issuer default rating to B + from BB - and longterm local currency IDR to BB - from BB.The general position expressed
by almost all the Briton wood institutions is that Nigeria's fiscal and external vulnerability has worsened under Buhari and it is projected that the government's general fiscal deficit could grow up to 4.2 %
by the end of 2016 after averaging 1.5 % under the previous regime.A recent capital importation report
by Nigeria Bureau of Statistics confirms that, last year, the country recorded total inflow of capital into the economy stood at $ 9.6 billion which was a 53 % drop from previous year and the
lowest recorded total since 2011.
There was also a record decline in global coal production, driven
by low prices globally and then mining controls in China, which saw coal markets rally.
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