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Management of foreign exchange resources under Nigeria\u27s structural adjustment programme
No full textTbe paper seeks to appraise the foreign exchange management strategies under the Structural Adjustment Programme (SAP) in Nigeria. As a background, it reviews the foreign exchange management strategies in the pre-SAP period which largely relied on the use of trade and exchange controls. The available evidence is that the use of the control tools contributed to some extent to reducing balance of payments deficits, but at high costs in the form of increased malpractices and constraints on the production proress. The associated over-valued naira exchange rate discouraged production for export, encouraged imports of finished goods and raw materials and gave rise to virile parallel foreign exchange markets
Exchange Rate Policy and the Structural Adjustment Programme in African Countries: Case Studies of Zambia, Kenya, Ghana and Nigeria
No full textThe purpose of this paper is to review the experiences of some selected countries in Africa- Zambia, Kenya, Ghana and Nigeria- that have implemented adjustment programmes supported by the use of IMF resources, focusing largely on the role of their exchange rate policies. The paper is divided into four parts. Part I highlights the policy targets/objectives and instruments of structural adjustment and discusses in some detail.the role of exchange rate in the programmes of the countries under reference. In Part II, a theoretical analysis is undertaken of exchange rate concepts and the typology of the transmission mechanism linking exchange rate to some macro-economic variables in the economy. Part III dwells on the appraisal of policy measures, particularly the efficacy of exchange rate in the countries studied. This section also highlights the limitations of exchange rate as a policy instrument. Part IV contains the summary and conclusion, including implications for policy
Financial Deregulation, the Demand for Money and Monetary Policy in Australia, by P.A.V. Swamy and George S. Tavlas IMF Staff Papers, Vol. 36, No. 1, March 1989
No full textThe paper covers an important subject matter that is of relevance to the N igerian economy in \u27View of our recent experiences, with deregulation in general and in particular of the financial sector. The experience of the Australian financial system in the era of regulation was quite similar to the Nigerian experience. The sprouting and blossoming of finance houses in the face of strict regulation prior to policy reforms is a case in point. Thus, useful lessons can be drawn for our benefit through a thorough review of this paper. The paper examines the factors which informed the process of financial deregulation and the adoption of financial innovations in Australia, and investigates the implications of such reforms for the demand for money and monetary policy
Developments in the financial markets in the first quarter of 1990
No full textThis is a presentation of developments in the financial markets in the first quarter of 1990
Concepts, assumptions and scope of strategic planning.
No full textStrategic planning is a systematic and formalised approach to a realistic determination of the banks objectives, goals and strategies. The operatives and word here is realistic for their is no organisation without objectives. The article discusses the elaborate procedure adopted by a bank intent on introducing formalised planning. It highlighted loopholes to be avoided if the bank is to have any chance of seeing its plan implemented. Finally, the author shared the experience of United Bank for Africa (UBA), limited in strategic planning
Developments in the External Sector During the Fourth Quarter of 1990
No full textThe external sector came under more severe pressure during the fourth quarter of 1990. This was attributed to developments in both foreign exchange receipts and outpayments. While foreign exchange receipts declined by 9.1 per cent, outpayments rose by 23.4 per cent from their levels in the third quarter. As a result of these developments, the overall movement in foreign exchange, which showed a slight surplus in the third quarter of 1990 vis-a-vis the fourth quarter of 1989, turned around to a deficit of 3,454.2 million in September 1990 to $3,304.8 million in December 1990. At this level, the reserves could finance 4.5 months of foreign exchange commitments at the prevailing average rate of disbursement compared with 6.4 months in the preceding quarter and 3.4 months in the corresponding quarter of 1989
Developments in money, credit and banking in the second quarter of 1990.
No full textThis contains the report of developments in money, credit and banking in the second quarter of 1990 in Nigeria
Developments in the external sector during the second quarter of 1990
No full textThis contains report on the developments in the external sector during the second quarter of 1990 in Nigeria
Developments in the Retail Market Prices of Selected Consumer Items in Lagos Areas During the Fourth Quarter of 1990
No full textThe retail price of some selected consumer items in the Lagos Area rose marginally during the fourth quarter of 1990. The report of the survey conducted by CBN revealed that the prices of 37 out of the 69 commodities sampled increased when compared to their levels in the preceding quarter. Overall, the index of consumer prices was 2238 (1975=100), representing an increase of 2. 7 per cent over the level in the preceding quarter and 6.8 per cent when compared to the corresponding quarter of 1989 (see Table 1). All components of the consumer basket surveyed exhibited increases in prices, except fuel and ligh
Debt crisis in the West African Sub-Region: which way out?
No full textThe resolution of the debt problem has continued to engage the attention of the international community. In reaction to the problem, many debtor countries have adopted structural adjustment programmes and various proposals have been espoused and, in some cases, implemented. Nevertheless, the debt crisis is far from being resolved. It is now patently clear that a more realistic solution to the problem is needed in the 1990s to break the debt trap. This forum graced by eminent bankers, offers another opportunity to re-examine the salient issues and proffer new ideas and suggestions on how best to address the situation. The paper is divided into four sections. Section I discusses the genesis, trend, structure and impact of the external debt countries in the ECOWAS sub-region, section II focuses on the policy responses to debt management, while in section III, some suggestions are offered for dealing with the problems. section IV contains the summary and some concluding remarks