Not exact matches
Economic conditions in Europe are unsettling, with Italy's
recent struggles and the
downgrade of British
debt.
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.
Sorry if I am wrong on this, but the
recent JSPL fiasco or earlier amtek auto rating
downgrade has affected the performance of many
debt funds who were holding these securities.
Doomsayers have pointed to any number of reasons in
recent years why they believed the market was headed for a downturn: Standard & Poor's
downgrading of U.S. Treasury
debt in 2011; the growth - slowdown scare in China that sent stock prices down 12 % in the summer of 2015; Brexit and the election of Donald Trump, both of which were supposed to be catalysts for a market rout.
Investors are demanding higher yields to hold the
recent downgrade to junk status
debt.
1) U.S.
Downgrade is basically a» Political Leader B #tch Slap» (one I think they deserve): Below is an excerpt from Standard & Poor's (S&P) most
recent Sovereign Default Study — the study most applicable for discussing US
debt obligations.