The appreciation of the US dollar is having an adverse effect on emerging market economies. The International Monetary Fund (IMF), explained the impact in a blog post. Emerging markets include Nigeria, Egypt, Iran, Pakistan, Russia, Saudi Arabia, Taiwan, Thailand, among others. In a blog post published on Wednesday, the Bretton Woods institution said the dollar’s […]
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The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, has announced debt service relief for 25 poor countries. The MD in a statement, last night, in Washington, said that the debt relief was to enable the affected countries to better tackle the COVID-19 pandemic. The countries were: Afghanistan, Benin, Burkina Faso, Central […]
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According to data released by National Bureau of Statistics, Nigeria’s gross domestic product grew by 2.27% in 2019. Recall that the International Monetary Fund (IMF) had projected that the nation’s economy would grow by 2.1% in 2019. Nigerian Gross Domestic Product report released by the bureau on Monday, indicated that the economy grew by 2.55% […]
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Ms Christine Lagarde, the Managing Director, International Monetary Fund (IMF), has resigned, the IMF says. The Executive Board of the fund said this in a statement issued by it on Tuesday in Washington D.C., adding that it has accepted Lagarde’s resignation with effect from Sept. 12. “We would like to express our greatest appreciation for […]
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The International Monetary Fund (IMF) has warned Nigeria and other developing countries against accepting loans from China due to unfavourable loan conditions. The Financial Counsellor and Director of the Monetary and Capital Markets Department of the IMF, Tobias Adrian, said this on Wednesday during the launch of the Global Financial Stability Report for April 2019 […]
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Speaking at a high-level dialogue in Washington D.C. on the sidelines of the World Bank-IMF Spring meetings, the President of the African Development Bank (http://www.AfDB.org), Akinwumi Adesina, said “It is time to turn around the declining investments of the U.S. in Africa. As the world’s private sector leader, the United States has a unique role to play in increasing investments […]
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The International Monetary Fund (IMF) has expressed its support for the planned of Value Added Tax (VAT) by the Federal Government of Nigeria. IMF urged the federal government to end fuel subsidies and create a credible timeline to recapitalise weak banks in the country. The IMF Executive Board 19 Article IV Consultation with Nigeria, said […]
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An American Airlines plane with International Monetary Fund (IMF) Managing Director, Christine Lagarde on board, made an emergency landing in the Argentine airport on Sunday due to malfunction, local media reported. According to the Clarin newspaper, the plane took off for the U. S. at 8.55 p.m. local time (23.55 GMT) from Buenos Aires’ Ezeiza […]
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Citing the poor condition of Nigerians, the International Monetary Fund (IMF) has called for urgent comprehensive and coherent economic policies in Nigeria. The gross domestic product report released by the National Bureau of Statistics (NBS) on Tuesday showed that the economy recorded a growth of 0.83 percent in 2017. The Bretton Wood institution said it […]
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The International Monetary Fund (IMF) has projected a 2.1 percent growth for Nigeria. This is after saying the economy of Nigeria is still vulnerable in spite of the country exiting recession. In a statement by Raphael Ranspach, the organisation’s media and press officer, IMF welcomed the federal government’s actions to improve the power sector and […]
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