The Economist (January 30)
2016/ 01/ 31 by jd in Global News
Nigeria’s President Muhammadu Buhari “is repeating an economic error he made as dictator 30 years ago.” To avoid devaluation, he has instead thrown limits on imports, creating scarcity that “will be even more inflationary. A weaker currency would spur domestic production more than import bans can and, in the long run, hurt consumers less. The country needs foreign capital to finance its deficits but, under today’s policies, it will struggle to get any.”
Tags: Buhari, Capital, Consumers, Currency, Deficits, Devaluation, Dictator, Import bans, Inflationary, Nigeria, Production, Scarcity
