Geopolitics

Repeated currency devaluations deepen poverty —Ex-World Bank chief - Tribune Online

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DW NOTE

Nigeria has devalued the naira four times since 2020, each time following IMF guidance toward a "market-determined" exchange rate. The naira has lost 70% of its value against the dollar in that period. The poverty rate, predictably, has climbed from 40% to 63%. When you destroy a currency to satisfy external creditors, you don't get stability—you get exactly what Nigeria got.

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For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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Repeated currency devaluations deepen poverty —Ex-World Bank chief - Tribune Online

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