Good Morning Nigeria: Manat from heaven?
​Manat from heaven?
On Monday its central bank announced a major devaluation and movement to a currency float, citing the external shock of tumbling oil prices. Official reserves had slumped from US$13.2bn at the start of 2015 to US$6.2bn at end-November. The impact of an earlier devaluation this year (in February) had been blunted by continuing oil price weakness. The competitive edge of the economy has also been blunted by devaluations by important trading partners. Oil and gas account for 95% of exports, 75% of government revenues and 40% of GDP. The country in question is Azerbaijan, and the currency the manat.
In today's rapidly changing financial environment, we believe our clients need a financial partner they can rely on to provide clear guidance, progressive thinking and innovative products. Our in-depth and qualitative research covers macroeconomics, fixed income and equities, offering timely market commentary and detailed analyses of the local economy, major sectors listed on the Nigerian Stock Exchange (NSE) and the Federal Government of Nigeria bond market. Our sound recommendations are based on a thorough and objective analysis of the relevant companies within the context of their respective industries, the local market and international peer set. Our research is well recognized and acclaimed for its value and integrity, as we provide existing and prospective investors access to reliable, independent, quality research to aid investment decision-making and strategy development.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.