Indonesia has bolstered its credentials as an emerging market leader – at some potential cost. The country took a surprising step to shore up its faltering currency by raising interest rates, and foreshadowed the tough choices confronting Asian economies in coming weeks.
The current account balance of the balance of payments is a barometer of how a country earns its income (exports of goods and services) and spends (imports of goods and services).
Nigeria’s government plans to raise nine trillion naira (US$11.98bil) of debt to help fund next year’s budget, says Ben Akabueze, the head of the West African nation’s budget office.