The African Development Bank (AfDB) has approved a $288.5 million loan to help Nigeria tackle the Covid-19 pandemic and mitigate its impact on people and businesses.
The loan will bolster the government’s plans to improve surveillance and response to Covid-19 emergencies, ease the impact on workers and businesses and strengthen the social protection system.
Nigeria, Africa’s most populous nation and the continent’s largest oil producer, is facing twin crises – a health epidemic caused by Covid-19, and an economic crunch largely occasioned by a global oil price plunge. As of June 5, the country reported 11,516 coronavirus cases, 3,535 recoveries and 323 deaths.
One of the more prominent tenets of Fundamental Analysis is the study of economic data releases, which, simply put, is a form of trading which relies on market sentiment created by global news.
There are literally hundreds upon hundreds of economic data releases on any given day.
Every country in the world will be constantly releasing data such as Gross Domestic Product, trade balance, retail sales, unemployment rates, so on and so forth.
Our Economic Calendar allows you study news releases of countries and observe their expected market impact, and many traders will find it extremely helpful to keep a close eye on news headlines from the countries relevant to their investments.
The president's tweets appear to reference a controversial upcoming film, The Hunt.
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