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      Botswana to host Africa Youth games

      Botswana to host Africa Youth games

      Less Rewards for The Mares after Historic WAFCON Feat

      Mares eye TotalEnergies Women Africa Cup of Nations qualification

      No House For Tebogo Despite Astral Performance in Budapest

      BNOC Leaves BAA on The Dark Regarding Paris Olympics Preps

      Botswana is using Women’s COSAFA for Development – Coach

      Mares buoyant despite Olympic qualifier setback

      P3m needed for sports awards

      School Sports Likely to Make a Comeback Next Year

      No House For Tebogo Despite Astral Performance in Budapest

      Eminent Sports Scientist Urges Botswana to Prioritise Development Over Prestige

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      Nigeria converts loans taken from the Central Bank to bonds

      mm by RMB Africa Research
      October 20, 2022
      in News
      Reading Time: 1 min read
      0
      Nigeria scraps fuel subsidy as policy shows it “is unsustainable”

      President Muhammadu Buhari

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      Finance Minister Zainab Ahmed has said that loans taken from the Central Bank of Nigeria to fund budget deficits amounting to NGN20trn (US$45.4bn) will be converted to bonds over a 40-year period at an interest rate of 9 percent.

      President Muhammadu Buhari has approved the plan to convert the loans. According to the head of the country’s Debt Management Office, “it is a one-time restructuring payable over 40 years with a moratorium”. The timing of the conversion will be disclosed after the government seeks approval from the cabinet and lawmakers this year. This is the first time Nigeria has resorted to such a move, and it comes as pressure mounts on Nigeria’s public finances.

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