As the United States of America (USA) struggles to find a way out of its debt crisis, a professor of Economics at the University of Ibadan, Adeola Adenikinju and a Lagos-based economist, Dr Ayo Teriba, have warned that the value of the dollar and dollar-denominated commodities such as crude oil in Nigeria could depreciate.
The United States Congress has until Tuesday, August 2, to agree to raise the US debt ceiling which would allow the government to continue paying its creditors and to fund state pensions, student loans, military salaries and contracts.
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Monday 1 August 2011
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