EconWatch.com > CBN, FOREIGN RESERVES AND THE ECONOMY | Vanguard

[Vanguard] “That way the process of translating foreign exchange into naira for government business (including execution of capital projects) simultaneously releases foreign exchange to entitled end-users to invest, help further stated government objectives and drive rapid economic growth and development.  It does this without unleashing the destabilizing liquidity surfeit and its attendant high inflation, prohibitive lending rates and adverse naira exchange rate that have held the economy hostage for over three decades.  Usman wrongly pinned such self-inflicted problems on Dutch disease.

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