AfDB President Adesina explains why Nigeria is too big to fail, does not have a debt problem

PUBLISHED: Mon, 03 Oct 2016 09:06:26 GMT
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African Development Bank President Akinwumi Adesina told CNBC Africa that it is supplying Nigeria with counter-cyclical funding as it is too big to fail.

The bank will provide it with $1 billion budget support programme which includes a number of policy reforms. For more details watch the video.

On Monday Adesina said Nigeria needs to coordinate its fiscal and monetary policy more closely.

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“I think the naira is devalued, but…monetary policy and also the fiscal policy that synchronisation, that is very very important,” Adesina said during a panel discussion at the FT Africa Summit in London.

“There is a lot of pressure put on the naira.”