Corruption challenges: Although corruption is a global scourge, Nigeria appears to suffer particularly from it. Everyone appears to believe that the nation has a “culture of corruption”. Over the years, Nigeria has earned huge sums of money from crude oil, which appears to have largely gone down the sinkhole created by corruption.
[28] On the one side, an accommodative unconventional monetary policy shock leads to a decline in euro area interest rates, which tends to stimulate international bond issuance in euro. On the other side, such a shock amplifies deviations from covered interest parity – the premium demanded by market participants for taking on a foreign currency exposure over and beyond interest rate differentials.