Nigeria central bank boss Godwin Emefiele has justified why the bank is printing more money to finance the federal government budget. “If government cannot finance all its obligations,” the central bank should offer support as a lender of last resort, Emefiele said in a press briefing on Tuesday. He blasted Fitch Ratings for warning that rising central-bank financing jeopardizes the ability of authorities to tame inflation that hit a three-year high in December. xAccording to Fitch, the Central bank financing of the Nigerian government has tripled since 2015. The IMF and World Bank have said central-bank financing undermines confidence and hampers long-term investment.

Source: The Guardian January 27, 2021 10:30 UTC