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IMF urges FG to remove fuel subsidy June 2023

The International Monetary Fund has implored the Federal Government to fulfil its plans to remove fuel subsidy by June. The prominent financial agency of the United Nations, IMF stated this on Wednesday in a publication on their website titled ‘IMF Executive Board Concludes 2022 Article IV Consultation with Nigeria.’ The publication highlighted that Nigeria’s economy […]

Why Nigeria must save oil revenues - IMF
News

Shipping cost surge caused global inflation – IMF

  The International Monetary Fund has linked the current global inflation with the upsurge of the shipping costs. IMF stated in a newly composed report with the title “the costs of misreading inflation,” that by October, 2021, the indices of the cost of transporting containers by maritime freight had climbed by almost 600%, while the […]

Ghana requests debt relief under G20 Common Framework - IMF
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Ghana requests debt relief under G20 Common Framework – IMF

Ghana has requested debt relief through the Common Framework program, which is backed by the Group of 20 major economies, according to International Monetary Fund Managing Director, Kristalina Georgieva. According to a source familiar with the matter, Ghana asked for a restructure of its bilateral debt on Tuesday under the Common Framework initiative backed by […]

Why oil theft estimates are unrealistic- Navy
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IMF predicts tougher global economy in 2023

  Managing Director of the International Monetary Fund, Kristalina Georgieva, has stated that 2023 will be tougher on the global economy than the previous year. According to Al Jazeera, she stated this on Sunday in an interview with American news channel CBS. Georgieva predicted that a third of the world’s economies will remain in recession […]

Why Nigeria must save oil revenues - IMF
News

Food crisis: IMF board approves $71 million for Guinea

  The International Monetary Fund has stated that it has approved a disbursement of $71 million for Guinea. According to Reuters, the IMF stated that the funds was disbursed under its ‘food shock window’ to help the country address urgent balance of payment needs related to the global food crisis. Guinea is currently facing a […]

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Ghana receives IMF’s $3bn bailout fund

Ghana has signed a $3billion bailout agreement with the International Monetary Fund following months of declining economic revenue. This is a follow-up visit to Accra, Ghana, by an IMF team led by the Mission Chief for Ghana, Mr. Stéphane Roudet. The visit, which lasted from December 1 to 13, 2022, included discussions with Ghanaian officials […]

Why Nigeria must save oil revenues - IMF
Economy

Why Nigeria must save oil revenues – IMF

The International Monetary Fund has urged the Nigerian government to save up on oil revenues as fears of a global food shock rise. The IMF made this know on Wednesday, at the 2022 IMF/World Bank meetings held in Washington DC, United States. This is coming after recent revenue challenges in the country despite the boom […]

Why Nigeria must save oil revenues - IMF
Economy News

IMF upgrades Nigeria’s economic growth forecast to 3.4%

The increase in global oil prices has caused the International Monetary Fund to review Nigeria’s economic growth potential to 3.4 per cent in 2022. The IMF disclosed this in its ‘World Economic Outlook: War Sets Back the Global Recovery, April 2022,’ report. In its January report, the Washington-based lender predicted a growth rate of 2.7 […]

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