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Nairaland Forum / Nairaland / General / Politics / IMF Wants Buhari To Change His Forex Policy (29288 Views)
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Re: IMF Wants Buhari To Change His Forex Policy by EreluY(f): 11:46pm On Apr 15, 2016 |
[size=18pt]IMF IS NO FRIEND TO ANY DEBTORS[/size] 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by enlightenedmind: 12:01am On Apr 16, 2016 |
iliyande:Menopause 2 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by Caseless: 4:17am On Apr 16, 2016 |
amtaken:you know nothing about the economy. 2 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by Caseless: 4:23am On Apr 16, 2016 |
musicwriter:@herbie27, hide ur head in shame and read this. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by Caseless: 4:34am On Apr 16, 2016 |
omenka:their dominance and meddlesomeness can't last forever as someone has to put a stop to it. Somebody put a stop to America's monopoly of nuclear weapons when some other nations came up with their own just like Nigeria is doing now. We can be stuck to textbook economic policies that do not work for us. This step taken by Nigeria might end up creating a leeway to freedom for so many countries. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by Nellybii: 4:35am On Apr 16, 2016 |
project50: Are you a Jew? 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by Caseless: 4:44am On Apr 16, 2016 |
rusher14:so many brilliant post from brilliant people on this thread . Herbie27, respond to the last line pls. You guys take anything from the west hook , line and sinker without looking at the implications. Licking the azz of America doesn't make you an American. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by amtaken(f): 4:45am On Apr 16, 2016 |
You know a lot about the economy yet when those who don't know que up for fuel you join them to que, when they buy dollars for $1 to N321 you do same, when the power supply seizes it seizes in your home too, when hunger bites it bites you too. Like I said before: Buhari's harsh economic policies are killing the country. Caseless: 3 Likes 1 Share |
Re: IMF Wants Buhari To Change His Forex Policy by whitebeard(m): 7:28am On Apr 16, 2016 |
iliyande:they are all bitch ass niggas |
Re: IMF Wants Buhari To Change His Forex Policy by presidentMZ: 8:59am On Apr 16, 2016 |
Zionist, jews IMF west does'nt want the economic decision of Mr President of Nigeria. Let them go to hell, we are now heading to East, no going back. You are our problems. Bleep your self and stop ripping off manking |
Re: IMF Wants Buhari To Change His Forex Policy by King44(m): 9:00am On Apr 16, 2016 |
grandstar:so finally if the currency is devalued what would b d exchange rate of naira to dollar I guess $1 to 600 naira all becos we want a fair trade and smooth running economy bt unfortunately if we do worse would be the case |
Re: IMF Wants Buhari To Change His Forex Policy by PrinceMario(m): 9:15am On Apr 16, 2016 |
herbie27:Why not keep calm and learn from the guy, he knows far better than you. The more you try to counter him the more senseless you sound. |
Re: IMF Wants Buhari To Change His Forex Policy by OPCNAIRALAND: 9:34am On Apr 16, 2016 |
modath: Lagarde and Ngozi are paddy paddy....it's a plot! Soon as Buhari agrees to her suggestions the stage will be set for the programm, then an implementation stage, followed by a sustainable roadmap. Then the management of the partnership.....my sister, guess who Lagarde will appoint to manage it? ...na plot! Hippo should go and find another country to help, she is a two time failed Finance Minister and we dont want her knuckles in our treasury again forever! . 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by hoodmenconcept(m): 11:56am On Apr 16, 2016 |
herbie27: Mr. economist.. Ogun state is the most industrious state.. do ur findings very well.. mistakes u guyz always did is that: there r some parts in lagos that belong to Ogun state not Lagos state! |
Re: IMF Wants Buhari To Change His Forex Policy by hoodmenconcept(m): 12:47pm On Apr 16, 2016 |
grandstar: you are obviously out of point, you neither dont know the reason why pmb went to china then u shut d fck up! let me enlighten u a little bit then u use ur common sense to elaborate it... seeking for a way to divert our economy from this motherfckers Westerner without making use of dollars as a major means of exchange rate for businesses, since the high rate of exchange rate of naira to dollars is not favorable. if pmb can succeed with this ideas then dollars will be useless |
Re: IMF Wants Buhari To Change His Forex Policy by hoodmenconcept(m): 12:48pm On Apr 16, 2016 |
grandstar: you are obviously out of point, you neither dont know the reason why pmb went to china then u shut d fck up! let me enlighten u a little bit then u use ur common sense to elaborate it... seeking for a way to divert our economy from this motherfckers Westerner without making use of dollars as a major means of exchange rate for businesses, since the high rate of exchange rate of naira to dollars is not favorable. if pmb can succeed with this ideas then dollars will be useless do i make a common sense! |
Re: IMF Wants Buhari To Change His Forex Policy by grandstar(m): 1:15pm On Apr 16, 2016 |
King44: The exchange rate of a currency is determined by fundamentals and not by what anybody wants even the IMF. The IMF too is subject to the fundamentals. The rate can't drop to 600. In 2009, the price of oil fell from $148 in 2008, to $35 that year. The official rate then was 120 to $1. There was pressure on the naira becuase of a drop in the forex income. Soludo, the then CBN governor refused to devalue at the official rate. The naira crash to 190 at the parallel market. To support the 120 at the official rate, the foriiegn reserves went from $60b to $41b in little or no time yet did nothing to stop the naira from crashing. Sanusi now came in and immediately devalued the currency to 150. Immediately, the parallel rate went from 190 to 155. And the pressure on the naira eased. Sanusi said the official rate and that of the black market must have maximum of 3% difference. That anything is excess is not right. If the naira is devalued to around 250, the excess demand at the official rate will dry up and the parallel rate will probably hit around 255. There is no reason for it to touch 600. It can however touch 600 if the government decides to borrow recklessly and pump too much money in circulation. It can not just touch 600 for no reason. Its the fundamentals that count The massive difference of 60% between the official and parallel rate is more than enough indication that the currency needs to be devalued. The country can not continue leaving in denial! 3 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by King44(m): 1:44pm On Apr 16, 2016 |
grandstar:true, but I fear for the future value of Nigeria's currency cos if devalued to reflect the market force things would finally be at ease but it won't last long as the forces of demand and supply would persist and the gvt would have to fall back on devaluation and finally the currency would b pushed to the edge of no redemption in few years to come alas naira would have no value and this would greatly affect trade, the economy should be truly diversified this act of financing deficit with depth will do this country no good |
Re: IMF Wants Buhari To Change His Forex Policy by udatso: 2:18pm On Apr 16, 2016 |
grandstar:You sir are literate but ignorant (no insult intended). In simple terms, running to China is to make our demand for dollar reduce to the minimum. 1 Like |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 2:50pm On Apr 16, 2016 |
Caseless:You shld hide ur head in SHAME and stp being Gullible. Make your own contributions and stop sourcing for fake internet stories. |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 2:54pm On Apr 16, 2016 |
udatso:The three enemies of man are poverty, illiteracy and ignorance. Your government running to China cannot make the demand for the Dollars reduce to the minimum. There is no nation in the world dat u won't find the dollar, find out from economist. 2 Likes |
Re: IMF Wants Buhari To Change His Forex Policy by udatso: 3:08pm On Apr 16, 2016 |
herbie27:How do you know that? Did I in anyway suggest Elimination of dollar totally in my post? |
Re: IMF Wants Buhari To Change His Forex Policy by Nobody: 3:26pm On Apr 16, 2016 |
udatso:Are you an alien?, no offence though!. |
Re: IMF Wants Buhari To Change His Forex Policy by sirthisthickkal: 7:25pm On Apr 16, 2016 |
enlightenedmind: |
Re: IMF Wants Buhari To Change His Forex Policy by jpphilips(m): 5:21pm On Apr 17, 2016 |
IMF not to worry, the budget deficit has gone to China, sorry 1 Like |
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