Connect with us

Hi, what are you looking for?


World News

How A Biden ‘President’ will attract $700b to Nigeria, RenCap Explains – #JoeBidenKamalaHarris2020

How A Biden ‘President’ will attract $700b to Nigeria, RenCap Explains – #JoeBidenKamalaHarris2020—-Analysts of Renaissance Capital (RenCap) have a predicted that a win for Democrat presidential candidate Joe Biden will attract $700 billion investments to Nigeria and other emerging markets.


The Chief Economist of RenCap, Charles Robertson on Thursday said a Biden victory will, in the long run, shift trillions of dollars to Nigeria and other emerging markets.


In a report to investors titled: “Biden’s victory, trillions into EM and lockdown”, Robertson explained that if that happens, many people will wonder why this election race was tight.

See also  #EndSARS: Ex-APC Chieftain Lauds CNN’s Report On Lekki Tollgate Shootings


How A Biden 'President' will attract $700b to Nigeria, RenCap Explains - #JoeBidenKamalaHarris2020The expert at the global investment and research firm said he expects Biden to clinch victory this evening (London time) with Nevada due to give him six Electoral College votes after 5pm London time.


On the outlook for Nigeria and other emerging markets, he argued that U.S. President, Donald Trump’s possible defeat is good for emerging markets. He said global investors will start re-allocating cash to emerging markets in a big way.


He disclosed that already, Blackrock’s head of fixed income, who is responsible for $2.6 trillion of that firm’s $7.8 trillion in assets (Africa’s Gross Domestic Product is $2 trillion to put this into perspective), said they will invest more in merging market.

See also  VOTE OF NO CONFIDENCE: Sweden's Prime Minster Impeached


“The stock of Africa’s Eurobonds only topped $100 billion in 2018, and even if it is only Blackrock’s actively managed part of the business more like $2 trillion in all asset classes (perhaps $700 billion in fixed income), that starts to shift to Emerging Markets this could be very helpful.


“Our base case is that Foreign Direct Investment will stop being a net positive for the US due to Trump’s defeat, and portfolio flows will also go to EM, and together, these will drive the $ gradually weaker in coming years,” he said.


Robertson said this becomes a self-reinforcing cycle of emerging market forex appreciation giving good returns to dollar investors, which in turn attracts more money to emerging market and in turn pushes emerging market forex stronger.

See also  STRANGE!!! Store Attendant Fired For Selling 15,000 Apples To One Customer
Click to comment

Leave a Reply

%d bloggers like this: