Nigeria’s Finance Minister added that the country is also looking to tap into the Eurobond market this year if rates fall.
State of fiat
Your fiat money is backed by the issuing government’s “full faith and credit.” What’s that worth these days? State of fiat informs about the situation of your local currency.
In December 2023, Ethiopia informed its bondholders that it would not be able to make a $33 million repayment on its $1 billion Eurobond loan.
A staff-level agreement follows the approval of the IMF loan to Kenya in November 2023.
Once the date for a meeting has been set, it is expected that the necessary approval will be granted.
With the eCedi CBDC, the Bank of Ghana hopes to stay relevant in an increasingly digital world. The CBDC is also created for financial inclusion.
$50 million comes as a grant from the World Bank’s International Development Association.
Presently, the country wants to work on improving its economy and increasing financial inclusion.