J.P. Morgan has included Nigeria in its new emerging markets index, assigning a 7.4 per cent weighting, after an eleven-year absence. The index, known as the Government Bond Index–Emerging Markets Edge, is expected to be launched by the end of September and will track about $330 billion in local-currency government debt across 26 countries. Nigeria's weighting makes it one of the largest markets in the new benchmark. The development comes nearly 11 years after Nigeria was removed from J.P. Morgan's GBI-EM in 2015.
Related Articles
Don't miss out on breaking stories and in-depth articles.