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Nigeria Improved Dollar Supply Helps Firms Settle Overseas Debt [Yahoo! Finance]
Last mondelez international, inc. - class a earnings: 4/28 04:05 pm
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Most Read from Bloomberg Trump Judge Indefinitely Postpones Documents Case Trial One Out of Every 24 New York City Residents Is Now a Millionaire Israel Says a Cease-Fire Plan Backed by Hamas Falls Short Einhorn Says Markets Are ‘Broken.' Here's What Data Shows MTN Nigeria Communications Plc, BUA Foods Plc and Cadbury Schweppes Overseas Ltd.'s Nigeria unit, some of the biggest firms in Africa's most populous nation, have reported that they are now able to access dollars to meet their foreign currency obligations, a reversal of a situation where the scarcity of greenbacks left them unable to repatriate profits or pay foreign suppliers. MTN Nigeria, the nation's biggest mobile operator, “utilized the improved liquidity in the foreign exchange market” to reduce letters of credit obligations by 41.6% to $243.4 million from $416.6 million in December, in a bid to curb losses, Chief Financial Officer Modupe Kadiri said at investor conference call last week. The Central Bank o
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