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Tag: IMF

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IMF urges caution on rate cuts as inflation pressures persist

The International Monetary Fund has urged central banks to be cautious about lowering interest rates, warning that price stability remains essential amid uneven economic growth and lingering inflation. In its latest 13-page World Economic Outlook update, the IMF said that although some economies are showing signs of modest recovery, inflation pressures persist. The Fund stressed […]

Business

IMF raises Nigeria’s 2026 growth forecast to 4.4%

The International Monetary Fund has revised upward Nigeria’s economic growth projection for 2026 to 4.4 per cent, from an earlier estimate of 4.2 per cent. The updated forecast was contained in the IMF’s January 2026 World Economic Outlook update, released on Monday. According to the Fund, the improved outlook reflects rising confidence in Nigeria’s medium-term […]

Economy

IMF backs Nigeria’s inflation data after CPI overhaul

Nigeria’s inflation outlook received a boost in credibility after the International Monetary Fund endorsed newly revised consumer price data that indicate a significant easing of price pressures. The endorsement follows a comprehensive methodological overhaul of inflation measurement by the National Bureau of Statistics, designed to align Nigeria’s data with international standards. The IMF said the […]

Business

Tight policies, FX adjustments behind Nigeria’s inflation drop – IMF

The International Monetary Fund attributes the recent fall in Nigeria’s inflation to stricter policy measures and exchange rate adjustments. IMF Director for the African Department, Abebe Selassie, made the remarks on Thursday at the launch of the Regional Economic Outlook for Sub-Saharan Africa in Washington, DC. According to the National Bureau of Statistics, Nigeria’s headline […]

Business

IMF upgrades Nigeria’s growth outlook to 3.9% in 2025

The International Monetary Fund has raised Nigeria’s economic growth forecast, projecting a 3.9 per cent expansion in 2025 and 4.2 per cent in 2026. The updated outlook, released on Tuesday at the launch of the World Economic Outlook 2025 during the World Bank and IMF Annual Meetings in Washington, D.C., marks an improvement from the […]

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IMF urges Nigeria, others to strengthen governance, curb corruption

The International Monetary Fund has urged Nigeria and other emerging economies to strengthen governance diagnostics and curb illicit financial flows to boost resilience and rebuild public trust in state institutions. IMF Managing Director Kristalina Georgieva made the call during a Civil Society Town Hall at the ongoing IMF-World Bank Annual Meetings in Washington, D.C. She […]

Business

IMF, IFC hail Tinubu’s structural economic reforms

The International Monetary Fund and the International Finance Corporation have commended the administration of President Bola Tinubu for advancing structural reforms that enhance Nigeria’s attractiveness to investors. Speaking on Tuesday at the “International Business Conference and EXPO 2025: Invest Nigeria,” hosted by the Lagos Chamber of Commerce and Industry, IMF Resident Representative Dr. Christian Ebeke […]

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Why Nigeria must lift millions out of poverty – IMF

The International Monetary Fund has called on Nigeria to intensify efforts toward inclusive growth, tighten fiscal discipline, and improve domestic revenue mobilisation as crucial steps toward long-term economic stability and prosperity. In a blog post on Monday, IMF Mission Chief to Nigeria, Axel Schimmelpfennig, and Resident Representative, Christian Ebeke, praised recent reform efforts but cautioned […]

Business

Nigeria’s fiscal deficit could worsen without urgent reforms – IMF

The International Monetary Fund has raised alarm over Nigeria’s 2025 fiscal outlook, warning that the country must urgently adjust its budget targets to prevent a deepening financial crisis. In its Article IV consultation report released on Wednesday, the IMF highlighted a strong likelihood that Nigeria will exceed its fiscal deficit target for the year, citing […]

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IMF warns AI power surge could strain global energy systems

The International Monetary Fund raised alarms on Tuesday about the escalating electricity demands of artificial intelligence data centers, warning that the surge could challenge global energy infrastructure, drive up prices, and increase carbon emissions. In a statement, the IMF highlighted AI’s transformative potential to boost global economic growth by reshaping productivity, employment, and investment. However, […]

News

Nigeria clears debt, exits IMF debtor nation list

The International Monetary Fund has removed Nigeria from its list of debtor nations after the country fully repaid its outstanding credit obligations. This development was revealed in the IMF’s latest report titled “Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025”, published on the Fund’s website on Wednesday. According to […]

News

IMF urges Nigeria to broaden tax revenue base

The International Monetary Fund has urged the Nigerian government to expand its tax revenue base and tackle tax evasion as part of necessary fiscal reforms to boost the country’s economic resilience. In a statement at the 2025 IMF Spring Meeting in Washington, D.C., IMF Managing Director Kristalina Georgieva stressed the importance for Nigeria and other […]

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