Nigeria returns to JP Morgan bond index after 11 years
Nigeria has returned to a JP Morgan emerging-market bond index after its inclusion in the new GBI-EM Edge, marking its first return since 2015. Read More: https://punchng.com/nigeria-returns-to-jp-morgan-bond-index-after-11-years/
Nigeria's return to the JP Morgan emerging-market bond index after an 11-year absence was announced by the Federal Ministry of Finance, marking its first comeback since 2015. The new Government Bond Index–Emerging Markets Edge, launched recently, includes selected Federal Government of Nigeria bonds, with Nigeria assigned a 7.40 per cent weighting, which is one of the highest among the 26 markets covered by the index and near JP Morgan’s maximum country weighting of eight per cent.
Nigeria's return to the index is attributed to reforms that have stabilised the naira, cleared foreign exchange backlog, and improved economic conditions. The inclusion is expected to attract additional foreign portfolio inflows into the Nigerian debt market, strengthen bond prices, and reduce domestic yields.
Written by urgent.news from Punch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- JP Morgan adds FGN bonds to emerging markets index dailypost.ng
- Nigeria rejoins J.P. Morgan Global Bond Index after 11 years premiumtimesng.com
- Nigeria returns to JP Morgan bond index after 11 years punchng.com
