Again, Moody’s downgrades Nigeria’s credit rating

Last October, the ratings agency downgraded Nigeria's local currency and foreign currency long-term issuer ratings

expects the government’s fiscal and debt position to worsen as the government grapples with far-reaching fiscal strain.

Obligations that are rated Caa are considered to be of poor standing and are subject to very high credit risk. “The 2023 budget plans on an even larger fiscal deficit than in 2022, while the government’s funding options remain narrow and reliant on central bank financing,” it added.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

PremiumTimesng /  🏆 3. in NG

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Despite threat of arrest, Emefiele shuns Reps againThe CBN wrote the lawmakers stating that Mr Emefiele had travelled out of the country with President Muhammadu Buhari.
Read more »

'Ambulance driver was not available' -- husband narrates last moments of Bolanle Raheem | TheCableGbenga Raheem has testified in the trial of Drambi Vandi, the officer standing trial over the killing of his wife, Bolanle.
Read more »

'I was shattered when she died' -- husband narrates last moments of Bolanle Raheem | TheCableGbenga Raheem has testified in the trial of Drambi Vandi, the officer standing trial over the killing of his wife — Bolanle Raheem
Read more »

Djokovic’s Father Gets Last Warning over Russian Flag Drama – THISDAYLIVE
Read more »

As 'Comrade Tinubu' Enters The 'Anti-Buhari' Barricade Again, By Kunle Wizeman Ajayi | Sahara ReportersIn a taxi at Kuto, Abeokuta, I heard drivers and passengers saying; 'Won ti kowo nle, won kepo wole...' Even Tinubu sef is angry at what is happening in Nigeria today. I looked at the passenger, he was clad in a yellow shirt with the inscription 'Dapo For Governor.' I smiled loud!
Read more »

NRC suspends Abuja-Kaduna service as train derails again | TheCableThe Nigerian Railway Corporation (NRC) has suspended the Abuja-Kaduna rail services after a train derailed on the corridor. A train said to be a few minutes from its destination in
Read more »