Nigeria flip-flops, policymakers in financing pickle

Mixed signals from recent policy announcements in Nigeria raise doubts about the administration’s commitment to pro-business reforms, especially in relation to the currency. At least the government seems to be making progress on loan negotiations with the World Bank – unlike policymakers in South Africa, who continue to baulk at the conditions that the Bank is insisting on. And Kenya will reportedly join the list of countries turning to multilateral lenders, highlighting that fiscal positions across the region remain strained.