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Nigeria

Nigeria: Deficit monetization raises macro-economic risks – Fitch

    EmergingMarketWatch
    21 January 2021
    • Federal government directly borrowed NGN 2.8tn or 1.9% of GDP from central bank to fund 2020 fiscal deficit
    • Federal government's indebtedness to CBN was NGN 9.8tn as of end-2019, so use of CBN financing pre-dated COVID-19