With oil costs plunging amid issues over a value struggle between Russia and Saudi Arabia, and the coronavirus outbreak obliterating inventory markets, Africa's largest economic system is in a precarious place.

The Worldwide Financial Fund (IMF) on Thursday mentioned it will likely be working carefully with the Nigerian authorities within the coming days to evaluate any vulnerabilities which can be uncovered by the sharp decline in crude costs, as Nigerian and Angolan greenback bonds sank to report lows.

Nigerian shares on Thursday headed for his or her fifth straight day of losses to a brand new four-year low, and a fall in oil costs to only over $30 per barrel, rising exterior debt and a depreciating foreign money pose a menace to financial stability within the nation of greater than 190 million folks. Nigeria is Africa's largest economic system when it comes to GDP...