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IMF predicts slow economic growth in Nigeria
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IMF predicts slow economic growth in Nigeria

      The International Monetary Fund has revised Nigeria’s economic growth projection for 2023 downwards by 0.3 percentage points to 2.9%, citing weaker oil and gas production. This was contained in a report by the IMF’s World Economic Outlook titled ‘Navigating Global Divergences’ in October. In July, the IMF had initially forecasted Nigeria’s 2023 […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
Business

Why Nigeria, others need $2tn to achieve net-zero emissions – IMF

Nigeria and other rising economies will require nearly $2 trillion yearly by 2030, according to the International Monetary Fund, in order to make the switch to net-zero emissions by 2050. The Punch reported that the international lender made this statement in a recent report titled “Emerging economies need much more private financing for climate transition” […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
Business

How low inflation, stable exchange rates will draw investors – IMF

The IMF’s resident representative in Nigeria, Ari Aisen, asserts that lower inflation and stable currency rates will draw more foreign investment to the country. According to Arise News, Aisen declared, “Investments may start entering Nigeria if inflation could be reduced and the exchange rate was more stable. For the entire country, there are numerous opportunities sprouting up. […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
Business

CBN’s funding of FG deficits will hike inflation – IMF

The Central Bank of Nigeria has been encouraged by the International Monetary Fund to take steps to suspend or limit its funding of the government’s fiscal deficits if it wants the booming inflation to subside. The National Bureau of Statistics reports that the country’s inflation increased from 22.22 percent in April 2023 to 22.41 percent in […]

Pakistan, IMF reach $3bn loan agreement
News

Pakistan, IMF reach $3bn loan agreement

Pakistan, which has been experiencing an economic crisis has partnered with the International Monetary Fund for over $3 billion (£2.4 billion). According to BBC, the agreement was finally reached after an eight-month wait though the board of the global lender is yet to accept it. Since gaining independence from Britain in 1947, Pakistan, a South Asian country has […]

Okonjo-Iweala, IMF MD demand improvement of international trade
Economy

Okonjo-Iweala, IMF MD demand improvement of international trade

Director General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, and the Managing Director of the International Monetary Fund, Kristalina Georgieva, have emphasized the importance of increased global trade in a policy paper released in June 2023. Nairametrics reported that they proposed that while avoiding market fragmentation and adverse policy consequences on other nations, global collaboration, and shared […]

IMF backs CBN on interest rate hike
Economy

Why Tinubu, Shettima must focus on revenue, expenditure – IMF

The resident representative of the Nigerian office of the International Monetary Fund, Ari Aisen, has urged that revenue and expenditure should be the main areas of focus in order to address Nigeria’s debt problems. The Punch reported that the IMF said this while encouraging Sen. Bola Tinubu’s new administration to take steps to broaden the country’s source of […]

Nigerians' use of eNaira disappointingly low – IMF
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Nigerians’ use of eNaira disappointingly low – IMF

  The eNaira’s public adoption by the Nigerian populace has been deemed ‘disappointingly low’ by the International Monetary Fund. According to The PUNCH, this was presented in a recently published working paper by the organisation, entitled “Nigeria’s eNaira, One Year After”. In this report, the Bretton Woods institution provided an assessment of the performance of […]

IMF backs CBN on interest rate hike
News

IMF grants Ghana $3bn loan

The International Monetary Fund approved a $3 billion loan for Ghana on Wednesday, with the first immediate disbursement amounting to around $600 million. According to Leadership, Ghana is a West African nation suffering from severe economic crisis. The Extended Fund Facility will fund the 36-month program, which was approved by the IMF board. In an IMF […]

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IMF director warns against retail e-currencies

The Managing Director of the International Monetary Fund, Kristalina Georgieva, has expressed her concerns about the potential risks associated with retail central bank digital currencies. In an interview at the Milken Institute’s 2023 Global Conference on May 1, Georgieva stated that retail CBDCs could have far more room for error than wholesale CBDCs. She explained […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
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Sub-saharan Africa risks losing $10bn in foreign investment — IMF

The International Monetary Fund has warned that if geopolitical tension persists, sub-Saharan African nations could lose $10 billion in foreign direct investments as well as market access. Nairametrics reported that according to IMF, in an essay that was released on May 1st, countries in sub-Saharan Africa would be hurt by rising import costs or would even lose access to important […]

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