Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?

  • A it would allowed for more money to be spent on luxuries
  • B the interest rate on the loan will increase
  • C it would decrease the demand for Nigeria's exports
  • D it would worsen Nigeria foreign exchange situation
  • E Nigerias oil would sell less in the world market

The correct answer is D. it would worsen Nigeria foreign exchange situation

No explanation given
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