Tag: International Monetary Fund

International Monetary Fund is proposing a $50 billion trust fund for Nigeria, Others

The International Monetary Fund (IMF) is proposing a $50 billion trust fund for Nigeria and other low and vulnerable middle-income countries. In a blog post published on Thursday, it explained that the fund was targeted at helping countries in that category to build resilience and sustainability. “A proposed $50-billion trust[Read More…]

The Role of Policymakers in Boosting the African Economy

Across the world, policymakers are entering a challenging period of recovery and growth in the wake of the pandemic, with the effects of this most likely to be felt in developing economies like Africa. According to the International Monetary Fund (IMF), policymakers in such regions should continue to provide economic[Read More…]

International Monetary Fund assures Nigeria’s economy will recover

The International Monetary Fund on Friday said Nigeria’s output would recover to its pre-pandemic level in the next two years. It said this was part of the conclusion of an IMF staff team led by Jesmin Rahman after conducting a virtual mission from October 30 to November 17, 2020, in[Read More…]

Nigerians Getting Poorer Despite the Country’s Recovery From Recession – IMF

Nigeria’s people are getting poorer despite the country’s slow recovery from recession and economic reforms are urgently needed, the International Monetary Fund has said. The Fund expects the government to “muddle through” in the medium term, and any progress could also be threatened if elections next year consume political energy[Read More…]

International Monetary Fund Tells Nigeria To Revisit Tax Holidays

The International Monetary Fund has advised the Federal Government to urgently revisit tax holidays and exemptions given to companies. It specifically urged Nigeria to implement a reform that would see it phase out tax holidays and exemptions eroding the Company Income Tax base. Successive governments had granted controversial tax holidays[Read More…]

IMF Supports OAGF on Cash Management 

The Accountant-General of the Federation, Mr. Ahmed  Idris has commended  the International Monetary Fund, IMF, for their interest and  continued support in developing better  public financial  Management  practice in Nigeria. Mr. Idris made this remark today at an interactive session between the management of the Office of the Accountant-General of[Read More…]

International Monetary Fund Says Nigeria Heading Into Recession

The International Monetary Fund said it expects Africa’s largest economy to contract by 1.8 percent this year, after having forecast in April a 2.3 percent expansion. Nigeria’s stall, and sluggish activity in the number two economy, South Africa, is expected to pull down economic growth across sub-Saharan Africa, the IMF[Read More…]

Nigeria’s Economy Likely To Shrink This Year Says International Monetary Fund

Nigeria’s economy will most likely contract this year as energy shortages and the delayed budget weigh on output, the International Monetary Fund has said. “I think there is a high likelihood that 2016 as a whole will be a contractionary year,” the IMF Country Representative in Nigeria, Gene Leon, said.[Read More…]

Although Nigeria, Is Going Through Its Worst Economic Crisis, Finance Minister Says No Need For IMF Assistance

Although Nigeria, is going through its worst economic crisis in years, it has not turned to the International Monetary Fund (IMF) for financial assistance because it is “not sick”. Finance minister, Kemi Adeosun said this in Washington D.C, thrashing reports linking the country,with others such as Angola, Ghana, seeking IMF[Read More…]

Nigeria’s GDP Will Fall To New Low In 2016 According To The International Monetary Fund

The international monetary fund (IMF) says Nigeria’s gross domestic product (GDP) would be worse in 2016 than it was in 2015, despite plunging to a record low in 2015. The executive board of the IMF said it had concluded the article IV consultation with Nigeria, and projected a GDP growth[Read More…]