Why did CBN borrow $15bn? ‘Import capacity under threat’ A potential shock to Nigeria’s short-term economic stability bordering on the size of the country’s foreign reserves seems to have been averted. Just as Nigerians were trying hard to come to terms with the puzzle posed by the Consolidated and Separate Financial Statements for last…
US Perspective
President Joe Biden’s $1.9 trillion pandemic relief package is set to reach Americans as early as this week. Joyce Chang, chair of global research at JP Morgan has forecast that this stimulus package would contribute to the best growth in 50 years with projections of 9.5% and 8.3% in Q2 and Q3 2021 respectively.
According to data from the US census bureau; the majority of households who received the $600 stimulus cheque in February either saved, paid debt or spent a large chunk on accommodation costs (i.e. House Rent or Mortgages). Hence, initial concerns for those opposed to the 3
rd stimulus was that the $1.9 trillion was too large and that would result inflation rather than growth.