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A default would be one of the clearest signals that the sanctions are having their intended effect on the Russian economy. But its impact on Russia’s ability to wage war in Ukraine may be another story.
Bangladesh's use of foreign loans rose 57 per cent year-on-year to $6.8 billion in first nine months till March in the current fiscal year.
By Deji Elumoye and Emameh Gabriel The Senate Tuesday referred President Muhammadu Buhari’s request for N2.3trn external loan to fund the 2021 budget deficit to its committee on Local Debts and Foreign Loan for further legislative work. The committee headed by Senator Clifford Ordia has two weeks to report back to Senate plenary. President Buhari had on May 18, 2021 written to the Senate seeking the approval of N2.3trn ($6.18bn) external borrowing to fund the 2021 budget deficit of N5.6trn President of the Senate, Ahmed Lawan, during Tuesday plenary drew the attention of his collegues to th...