Saturday, August 05, 2017 08:00 AM / Proshare
From the Editor’s Desk
On Wednesday the 2nd of August 2017, members of the International Monetary Fund admitted that figures from recent data at the end of the first half of 2017 suggests that the macro conduit is experiencing some degree of relief from earlier headwinds but the recovery remains fragile. The fund admitted that a growth projection of 0.8% will not be sufficient to make a dent in reducing unemployment and poverty. Thus it align with our position that qualitative growth so far still remains largely disconnected from quantitative growth and projected 0.8% growth is too faint to reverse earlier depression suffered by households. Evidently validating our long held position that a more concerted effort by both monetary and fiscal policy is needed to address the on-going hysteresis effect. Strikingly such effort can’t be achieved by sticking to the familiar circles of taming inflation and running after short term fluid benefits of hot money, which has persistently produced a stop and go economy; rather such feat can only be achieved by managing trade- off better, with the intent of leading growth and not running after paltry growth.
Fig 1: Unemployment and Underemployment of selected countries
Source: Trading Economics, CBN
On Monday, August 7, 2017, the Federal Government will offer saving bonds with 2 different tenors, precisely 2 year and 3 year tenors, respectively. Expectedly, the captive nature of the money market at this point in time coupled with the risk free nature of government securities will sustain investors’ appetite. In reaction to the offer, the overnight and open buy back rates will experience strains.
Monday, August 7, 2017
The Federal Government Savings Bond August Offer will open today.
The National Bureau of Statistics will release its Q1, Q2 2017 Household Consumption Expenditure (Food & Non-Food) and Q2 2017 Foreign Trade in Merchandise statistics today.
Tuesday, August 8, 2017
Smart Cities Summit Nigeria focusing on “Leveraging on technology solutions to improve the efficiency of cities” will commence today in Abuja.
Thursday, August 10, 2017
The maiden edition of BrandCrunch Sessions, a breakfast learning session themed “Marketing in the era of Big Data: The Changing Paradigm” will hold today in Lagos.
Friday, August 11, 2017
The National Bureau of Statistics will today release the Q2 2017 External Trade Intensity and Re Export Analysis and the Q2 2017 Port Activities.
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