EUROBOND EU­PHO­RIA

The Africa Report - - BRIEFING -

Amidst a re­ces­sion and with oil prices still low, in­vestors gave the gov­ern­ment of Nige­ria a big boost in the mid­dle of Fe­bru­ary. Far ex­ceed­ing the tar­get of $1bn, Nige­ria re­ceived $7.8bn in bids for its third eurobond – a name given to any bond is­sued in a for­eign cur­rency. This will help it to meet the deficit on the 2017 na­tional bud­get, which is de­signed to help spend the coun­try out of its eco­nomic trou­bles.

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