Showing posts with label do not devalue the Naira further. Show all posts
Showing posts with label do not devalue the Naira further. Show all posts
Wednesday, February 16, 2011
INTERNATIONAL MONETARY FUND WANTS ANEMIC NIGERIAN NAIRA DEVALUED FURTHER?
Icheoku queries how far is too far and how can a man already on his back fall down again except into his grave? Otherwise how does one explain the International Monetary Fund demand that the Nigerian Naira which already trades at 150N to a dollar at official market and about 157N on the black market be further devalued.
Icheoku says it does not smell good nor sound encouraging for the IMF to be putting undue pressure on the infantile stabilizing democracy Nigeria to further weaken her currency or does IMF want Nigeria to become another Zimbabwe that its 1trillion dollars trades for 1USD? President Jonathan must not allow this and should resist such SAP-curse which Ibrahim Badamosi Babangida acquiesced to during his military interregnum. If President Jonathan cannot stand up to these anti-third world economies financial institutions, then he should step aside, get out of the way for a real man with some backbone to get into the saddle and face down this economic merchants of death. Not in our name Jonathan and Nigerians please say no to IMF new conditions!
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