Nigeria's UAE swap deal with First Abu Dhabi Bank has drawn an IMF warning over hidden costs, as Abuja hunts cheaper financing for its budget.
NIGERIA · FINANCE
Key Facts
—$5 billion: Nigeria plans to borrow this from First Abu Dhabi Bank through a financial swap.
—The purpose: To refinance costly debt and help fund a widening budget.
—The structure: A “total return swap,” backed by naira securities worth about 133% of the loan.
The International Monetary Fund (IMF) has cautioned Nigeria over its proposed $5 billion Total Return Swap arrangement with First…
The IMF warns Nigeria about the opaque and risky nature of its proposed $5bn Total Return Swap deal with First Abu Dhabi Bank,…
The International Monetary Fund (IMF) has raised concerns over Nigeria’s proposed $5 billion borrowing arrangement with First Abu…
The International Monetary Fund (IMF) has counselled the federal government against the proposed $5billion Total Return Swap…
IMF Raises Red Flag On Nigeria’s Planned $5billion Abu Dhabi Loan Deal, Warns Of Hidden Risks
The International Monetary Fund (IMF) has advised the Federal Government against the proposed $5 billion loan from the First Abu…
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