Nigeria

As we have long expected, the Nigerian authorities have signalled that they intend to redeem the collateralized US$1.44bn fixed rate US$ 2020 par bonds. The next call date is November... 2006-10-12

Although we are less bearish towards EM assets than we were, our negative stance remains. In this respect, before discussing our surveyed investment banks' current external debt positions,... 2006-06-30

We continue to believe that the naira has scope to appreciate, should the central bank relax restrictions, on grounds of a strong current account surplus, ample reserves and attractive... 2006-06-29

The Middle East and African index fell by 0.6 points, with losses for Morocco, Nigeria and South Africa. Merrills are underweight Morocco, despite an improving macroeconomic profile,... 2006-03-24

We continue to believe that the naira has scope to appreciate, should the central bank relax restrictions, and now that it has formally introduced wholesale forex auctions, this view... 2006-03-01

Nigeria has taken the next step in consolidating its banking sector. The deadline for meeting the new NGN25bn capital requirement (up 12-fold from previously) was 31 December 2005,... 2006-01-03

The naira continues to push upwards within its peg, having appreciated to NGN128.00/US$ , from NGN136.00/US$ at the time of our last currency forecast. Our view on the currency remains... 2005-12-01

One word characterises EM debt of late: resilience. Indeed, the asset class has withstood a number of potentially negative influences, ranging from a sustained US tightening cycle... 2005-11-25

Despite the recent sharp declines in EM debt valuations, the surveyed banks remain upbeat on the asset class in general and have lifted the index to one of its highest ever readings... 2005-10-21

The Federal Reserve's decision to lift the Fed funds rate by another 25bps, to 3.75%, is a clear indication that, despite the near-term economic threat posed by Hurricane Katrina,... 2005-09-23