Nigeria rejoins J.P. Morgan Global Bond Index after 11 years
Nigeria’s inclusion in a J.P. Morgan global bond index is expected to attract about $17.5 billion into the country’s debt market and lower bond yields by up to 200 basis points. The post Nigeria rejoins J.P. Morgan Global Bond Index after 11 years appeared first on Premium Times Nigeria .
Nigeria has returned to the JP Morgan emerging-market bond index for the first time in over a decade, following its recent inclusion in the Government Bond Index–Emerging Markets Edge. The Federal Ministry of Finance announced the development, describing it as a significant milestone after Nigeria's exit from the benchmark in 2015.
The inclusion is attributed to Nigeria's successful implementation of economic reforms, which have stabilized the naira, cleared foreign exchange backlogs, and improved overall economic conditions. Nigeria was granted a 7.40% weighting in the new index, the highest among the 26 markets covered. The ministry expects this development to attract additional foreign portfolio inflows into the Nigerian debt market, potentially reducing the cost of servicing naira-denominated debt for the federal government.
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- Nigeria returns to JP Morgan bond index after 11 years punchng.com
- JP Morgan adds FGN bonds to emerging markets index dailypost.ng
