Despite Warnings, FG Draws Down $1.5Bn as First Tranche of FAB $5Bn Loan Deal

Nigeria has accessed the first tranche of its $5 billion derivatives financing arrangement with First Abu Dhabi Bank (FAB), drawing about $1.5 billion under the deal approved by the national assembly in March. This is despite caution by the International Monetary Fund (IMF) against proceeding with the proposed $5 billion structured Total Return Swap (TRS)

Read More