cbn devaluation.

blank:


Fiscal policies will mean other measures will be taken to prop up the currency and not just by currency restrictions.

Give me 1 or 2 examples please. There is cycle of weightless arguments going on here. We have very limited control options over the value of our currency. We do not produce 90% of what we consume.

D rich getting richer while d poor are getting

TonyeBarcanista:
Lack of fiscal policies is making the job of the CBN very difficult.

Nonsense. Nigeria is not China, USA, Japan, Britain just to name a few industrial countries. Fiscal policy impact on exchange rate in our case is severely limited.A country that imports virtually everything it consumes has limited policy options other than direct currency control. Especially now that our single hard currency earner commodity is in price free fall in the market.

ibedun:


Give me 1 or 2 examples please. There is cycle of weightless arguments going on here. We have very limited control options over the value of our currency. We do not produce 90% of what we consume.

I can give you examples but I won't. Will just be all talk. That's why he needs a sound economic team to put forth strong policies.

youngalex:
I say this with every sense of sincerity,it is in the best interest of Nigeria to avoid further currency devaluation, the way out is to continue to defend the Naira by any means possible while injecting finds through the bank of industry for rapid industrialization.Any devaluation now will lead to a serious financial crisis.

YOU CANNOT USE TECHNICS TO IMPOSE VALUES WHERE THERE'S NONE. THE MARKET FORCES CANNOT BE CONTROLLED BY HUMAN HANDS ELSE IT'S NO LONGER A FREE MARKET.