Merrill Lynch Ranks Nigeria World’s Safest Economy

[gogannaka]

From Thisday newspaper on 11.16.2008

A major boost was given to Nigeria's quest for foreign investment inflow at the weekend as the country was named the least vulnerable economy in the world, according to a report, Global Economics, compiled by a team of experts from Merrill Lynch.
Merrill Lynch is one of the world's leading financial management and advisory companies, providing financial advice and investment banking services.
The report, a copy of which was made available to THISDAY at the weekend, was compiled following several data requests from clients of the investment bank for key risk indicators for all major economies including Europe, the Middle East and Africa (EMEA).
According to the statistics, the world's 10 least vulnerable economies are Nigeria, Mexico, Phili-ppines, Colombia, Egypt, Oman, Indonesia, Peru, China and Russia.
Also, the report identified Australia, Switzerland, Korea, Romania, Hungary, Sweden, Bulgaria, Euro area, United Kingdom and the United States of America as the highest risk economies in the world.
The risk ranking was based on seven indicators and they are - current account financing gap, foreign exchange reser-ves/short-term external debt ratio, private credit-to-Gross Domestic Product (GDP) ratio, and private credit growth, loans to deposits and banks capital-to-assets ratio. Merrill Lynch said the report also addressed all the requests in 62 indicators of the 60 world economies.
According to the report, Nigeria, with a population of 141.41million, was able to record a 7.3 per cent growth in GDP, with its Consumer Price Index hovering at 11.5 per cent, its current account balance, fiscal balance and public debt at 6 per cent, 6.3 and 10.4 percentage respectively.

ETC ETC.
One day we will get there.

[IBB]

I always believe the fin crises impact will be less to Nigerian economy, apart from fall in crude oil price which will shorten our revenue oohh sorry GOVT REVENUE (since the masses dont get any).

Nigerians have always been in financial crises; where are the merchant banks in Nigeria? They have disappeared long time ago. Nothing to support small/big business. no job, no salary, no food, no security, no job security, no light, no water. Are these not worst than financial crises.

However we are not indebted to anybody with continous compounded interest. Anyway what services are there to even get you into debt?

[HUSNAA]

What Merrill Lynch is trying to say is that Nigerians are 'SHUKUZUBAS'  ;D ;D. Throw anything at them and they absorb the impact hehehehe!!! That's why we are the happiest ppl in the world lol ;D ;D ;D ;D